Practice Exs

# Practice Exs - Name Class Date ID A practice Multiple...

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Name: ______________________ Class: _________________ Date: _________ ID: A 1 practice Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. In Problem 4, Murphy used to consume 100 units of X and 50 units of Y when the price of X was \$2 and the price of Y was \$4. If the price of X rose to \$6 and the price of Y rose to \$6, how much would Murphy’s income have to rise so that he could still afford his original bundle? a. \$300 b. \$900 c. \$600 d. \$500 e. None of the above. ____ 2. In Problem 10, if in the same amount of time that it takes her to read 40 pages of economics and 30 pages of sociology, Martha could read 20 pages of economics and 90 pages of sociology, then which of these equations describes combinations of pages of economics, E , and sociology, S , that she could read in the time it takes to read 40 pages of economics and 30 pages of sociology? a. E + S = 110. b. E 2 + S = 50. c. 3 E + S = 150. d. E + S = 70. e. All of the above. ____ 3. In the economy of Mungo, discussed in Problem 12, there is a third person called Ike. Ike has a red income of 88 and a blue income of 30. Recall that blue prices are 1 bcu (blue currency unit) per unit of ambrosia and 1 bcu per unit of bubble gum. Red prices are 2 rcus (red currency units per unit of ambrosia and 6 rcus per unit of bubble gum. You have to pay twice for what you buy, once in red currency, once in blue currency. If Ike spends all of his blue income but not all of his red income, he must consume a. at least 23 units of ambrosia. b. exactly twice as much bubble gum as ambrosia. c. at least 17 units of bubble gum. d. at least 7 units of bubble gum. e. equal amounts of ambrosia and bubble gum. ____ 4. Quincy lives on pretzels and seafood salads. The price of pretzels is 1 dollar per bag and the price of seafood salads is 2 dollars each. Quincy allows himself to spend no more than 14 dollars a day on food. He also restricts his consumption to 3,400 calories per day. There are 600 calories in a bag of pretzels and 200 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calorie limit, he can consume up to a. 2 bags of pretzels per day but no more. b. 5 seafood salads per day but no more. c. 4 bags of pretzels per day but no more. d. 5 bags of pretzels per day but no more. e. None of the above.

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Name: ______________________ ID: A 2 ____ 5. Harry thrives on two goods, paperback novels and bananas. The cost of paperback novels is 4 dollars each and the cost of bananas is 3 dollars per bunch. If Harry spent all of his income on bananas, he could afford 12 bunches of bananas per week. How many paperback novels could he buy if he spent all of his income on paperback novels? a.
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Practice Exs - Name Class Date ID A practice Multiple...

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