practiceexam2B

# practiceexam2B - ECON 251 Practice Exam #2B (Based on...

This preview shows pages 1–3. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
his marginal rate of substitution (assuming the quantity of ice cream is still graphed on the x axis)? a. -1/2 b. -2 c. 1/2 d. 2 6. Based on the above figure, when the price of milkshakes decreases, the consumer changes consumption from point a to point c. The marginal rate of substitution from point a to point c has changed from _______ to _______. a. 8, 4 b. 1, 2 c. 2, 1 d. 4, 8 7. Based on the same figure above, when the price of milkshakes decreased, the quantity of soft drinks purchased ________, indicating that milkshakes and soft drinks are _____________. a.
This is the end of the preview. Sign up to access the rest of the document.

## This note was uploaded on 01/29/2010 for the course MGMT 201 taught by Professor Rowe during the Spring '08 term at Purdue.

### Page1 / 9

practiceexam2B - ECON 251 Practice Exam #2B (Based on...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online