Ch04 - CHAPTER 4 Individual and Market Demand MULTIPLE...

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CHAPTER 4 Individual and Market Demand MULTIPLE CHOICE Section 4.1 easy 1. Moving down along a demand curve for apples a. consumer well-being decreases. b. the marginal utility of apples decreases. c. the marginal utility of apples increases. d. both (a) and (b) are true. e. both (a) and (c) are true. easy 2. The change in the price of one good has no effect on the quantity demanded of another good. These goods are: easy 3. The price of good A goes up. As a result the demand for good B shifts to the left. From this we can infer that: easy 4. An individual demand curve can be derived from the curve. easy 5. Which of the following is true at each point along a price consumption curve? a. Utility is maximized but income is not all spent. b. All income is spent, but utility is not maximized. c. Utility is maximized, and all income is spent. d. The level of utility is constant. moderate 6. Which of the following is true regarding income along a price consumption curve? 100
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CHAPTER 4 TEST BANK INDIVIDUAL AND MARKET DEMAND SIXTH EDITION moderate 7. Which of the following is true regarding utility along a price consumption curve? easy 8. The income-consumption curve easy 9. Which of the following pairs of goods are NOT complements? a. hockey sticks and hockey pucks. b. computer CPU’s and computer monitors c. on campus student housing and off campus rental apartments. d. all of the above. e. none of the above. easy
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