Lab 8: Consumer Theory
In lab this week you will work in your assigned groups on the following questions. Use the
answer sheets provided in a separate posting for questions 1 and 2. Each group must hand in one
neat and legible copy of the answer sheets. F
Economics 103 Lab 8
Consumer Theory - graph paper for answers
Use this graph paper to answer question 1 parts a) through c).
Use this graph paper to answer question 1 parts e) through f).
Sample Final Exam Questions
(Choose the best answer for each question. Unless told
otherwise, assume that demand is downward sloping and
supply is upward sloping.)
1. Suppose that - at a given level of an economic activity - marginal cost is equal to marg