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Quiz 2 - AGEC 105 Ishdorj Quiz 2 Spring 2010 Name Choose...

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AGEC 105 Ishdorj Quiz 2 Spring 2010 Name: __________________________________ Choose the single best answer for each question. Each question is worth 2.5 points. 1. As Reba consumes four slices of pizza, her total utility rises from 0 to 18, to 24, to 28, and to 30, respectively. What is her marginal utility of the fourth slice of pizza? a. 28 b. 24 c. 2 d. 7 2. Consider the graph on the right. The clockwise rotation of this diagram may be explained as: a. the price of Pepsi rose b. the price of Coca Cola rose c. total income for the consumer fell d. the price of Pepsi fell 3. Assume the budget for this consumer is $96. At point C, fill in the entries in the table below: 4. The shift in the demand curve in the graph to the right is called: a. a change in quantity demanded P b. a change in demand Taco c. a change in utility d. a change in price of taco Q Taco Quantity of Iced Tea Quantity of Hamburgers Price of Iced Tea Price of Hamburgers 7 10 8 Q Pepsi Q CocaCola C 24 12 16 32 Hamburgers Iced Tea
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