{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

AQ 2 2009 Answers - Spring 2009 A660 105 Capes Name...

This preview shows pages 1–2. Sign up to view the full content.

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Spring 2009 A660 105 Capes Name: W_/:<Effﬂ___gﬁ_ AQ #2 U N: '1 at) l. The mathematical re )rcsentation oi' the satisfaction a consumer derives from a bundle of l 1 _ goods is called the Uﬂiﬁf ﬁrmtefiod Units of KNWWW l'ZIivlroninental Quali y (i pt)2. (a) This graph deals with ﬁﬂiﬁaanﬁim’é curves. (1 pt) (h 1' False. Circle the correct answer. 5 units oi"environinentai quality and 8 units of power offer the same level of satisfaction as 4 units of environmental quality and 10 units ol‘power. (2pts) (0) Given points B and C, how many units of environnientai quaiity is this consumer willing to give up 4 6 8 IO l2 in order to get one more unit ofpower‘? Show ail work! _ . i" {I (gm-rs at: ﬁ"N\lfrimfﬁ‘iW_"37i’£ Qdﬂtig 7:, “3“; v m. guts of fewer a}? ,- - - 7 “£3 0F 3’19 M?!- _ , (”:52 vmasa :3 “2% ‘ Opt) ((1) What IS the technical name diihe Situation described in (c)?_ if” Md,“ 12016 ub'ﬁé’ynw‘» (2pts) 3. Suppose a coiiege student can spend \$30 on Subway sandwiches and Chick-Fil-A sandwiches. The price of a Subway sandwich is \$3 and the price of a Chick-Fil-A sandwich is \$5. Which of the following diagrams describes the Wired budget line for this student? Circle the correct answer. Subway W” Subway (a) sandwiches Cg sandwiches 6 l0 £0 6 Chick-Fil-A sandwiches C‘hiek-Fil-A sandwiches Chick-Fil-A - Cliiek-‘Fil-A (C) sandwiches (d) sandwwhcs 6 10 I0 s t 6 l -' i Subway sandwiches A u may 5am “ {L I” (2pts) 4. Consider the graph on the right. om“ The clockwise rotation ofthis diagram may be 14 explained as: (a) the price of Pepsi rose (b) the price ot‘Coca Cola rose ((_ totai income for the consumer l‘ell I he price 0 t‘ Pepsi foil 8 Qt 'oeaCol l Spring 2009 aged [05 Capps (4pm) 5. Assume the budget for this consumer is \$06. I lamimrgers At point C, tiil in the entries in the table bciow: a. _ _ w _ - 24 I Quantity ol" Quantity of i Price of i Price of i iced Tea l-lamburgcrs [ Iced l_ea f Iniamhurgcrs as :2 { \$3 jl w t '3 i6 32 Iced Tea (2pts) 6. The shift in the budget line in the graph to the left Quantity 0t Hamburgers is due to: (Circle the correct answer): 15 (a) an increase in the price of hamburgers 1 (b) an increase in the price of tacos (c) a rise in income (d) a fall in income 10 15 Quantity of Tacos (2pts) 7. Illustrate a demand curve for any good. Be sure to iabel your axes. ?\D ‘5? (2pts) 8. Consider the following diagram, which deals with shrimp I from Galveston Bay. (lpt) (a) This diagram is technically cailed a/an WéEL- curve. ( lpt) (b) From this diagram, we can conciude that shrimp from Galveston Bay is a/an Mama. good. QShrimp Sign Me Aggie Pdedge: A}? Aggie does not lie. cheat, or steel or tolerate (hose 11-7770 do. Signature .- - Date I ...
View Full Document

{[ snackBarMessage ]}