Chapter+3_4_practice

Chapter+3_4_practice - Econ !00. Chapter 3 & 4 Practice...

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!00. Chapter 3 4 Practice Problems MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The above fgure shows Bobby's indiFFerence map For juice and snacks. Also shown are three budget lines resulting From diFFerent prices For snacks. As the price oF snacks rises, the price For juice A) decreases B) stays the same. C) increases. D) might change, but there is not enough inFormation to determine. 1) 2) The above fgure shows Bobby's indiFFerence map For juice and snacks. Also shown are three budget lines resulting From diFFerent prices For snacks assuming he has $20 to spend on these goods. Which oF the Following points are on Bobby's demand curve For snacks? A) p = 2, q = 13 B) p = 2, q = 5 C) p = 1, q = 20 D) p = 2, q = 10 2) 3) Suppose the quantity oF x is measured on the horizontal axis. IF the price consumption curve is vertical when the price oF x changes, then the demand For x is A) perFectly inelastic. B) unit
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Chapter+3_4_practice - Econ !00. Chapter 3 & 4 Practice...

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