ch 3 Varian2 - ch 3 Varian Ch 3 In going through the...

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ch 3 Varian Ch 3 In going through the questions I noticed that some were repetitive and others were unclear. Avoid the highlighted questions Multiple Choice Identify the choice that best completes the statement or answers the question. ___ 1. Charlie’s indifference curves have the equation , where larger constants correspond to better indifference curves. Charlie strictly prefers the bundle (6, 15) to the bundle a. (15, 6). b. (7, 14). c. (11, 13). d. All of the above. e. None of the above. ___ 2. Ambrose has indifference curves with the equation , where larger constants correspond to higher indifference curves. If good 1 is drawn on the horizontal axis and good 2 on the vertical axis, what is the slope of Ambrose’s indifference curve when his consumption bundle is (1, 11)? ____ 3. Nancy Lerner is taking a course from Professor Goodheart who will count only her best midterm grade and from Professor Stern who will count only her worst midterm grade. In one of her classes, Nancy has scores of 40 on her first midterm and 80 on her second midterm. When the first midterm score is measured on the horizontal axis and her second midterm score on the vertical, her indifference curve has a slope of zero at the point (40, 80). This class could 4. Nancy Lerner is taking a course from Professor Goodheart who will count only her best midterm grade and from Professor Stern who will count only her worst midterm grade. In one of her classes, Nancy has scores of 20 on her first midterm and 70 on her second midterm. When the first midterm score is measured on the horizontal axis and her second midterm score on the vertical, her indifference curve has a slope of zero at the point (20, 70). This class could
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