Figure 42 Reference Ref 4 2 Figure 42 Joannes utility function is U TC where T

Figure 42 reference ref 4 2 figure 42 joannes utility

This preview shows page 3 - 7 out of 33 pages.

152 Figure 4.2 Reference: Ref 4-2 (Figure 4.2) Joanne's utility function is U = TC,where Tis baskets of tomatoes and C is bags of carrots. One of Joanne's indifference curves will go through points: A, B,andF.Incorrect B, D,and E.Incorrect A, D,and E.(True Answer )Correct D, C,and E. Incorrect 153 Which assumption(s) allow(s) us to draw indifference curves? 154 Figure 4.3
Image of page 3
Reference: Ref 4-3 (Figure 4.3) Which of the following statements is FALSE? Figure 4.4 Reference: Ref 4-4 (Figure 4.4) This figure violates the assumption of: 15 6 Figure 4.5
Image of page 4
Reference: Ref 4-5 (Figure 4.5) Which of the following statements is TRUE?I. The consumer prefers any point on the indifference curve U2to any point on indifference curve U1II. The consumer receives 20% more satisfaction from consuming along indifference curve U2than indifference curve U1III. This consumer is not willing to give up units of good Xfor more units ofgood Y . . . I and III Incorrect I only (True Answer )Correct II only Incorrect I and II Incorrect 157 Figure 4.6 Reference: Ref 4-6 (Figure 4.6) What type of good is good X ?
Image of page 5