Second Sample Midterm Exam 2 Worksheet With Answers - Professor Scholz - University Of Wisconsin - Madison - 2009 Page 13
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17Second Sample Midterm Exam #2; Page 13 of 16
Figure: The Optimal Consumption Bundle
32) (Figure: The Optimal Consumption Bundle) In the accompanying figure, if the price of
restaurant meals ______, then the optimal consumption bundle will be on a ______ indifference
curve.
a)
increases; higher.
b)
decreases; higher.
c)
increases; lower.
d)
decreases; lower.
e)
both b and c are correct.
33) Each month Jacquelyn spends exactly $50 on ice cream regardless of the price. Jacquelyn's
price elasticity of demand for ice cream is:
a) Zero
b) One
c) Greater than one
d) Less than one, but greater than zero
e) Not enough information is given.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Sample Paper Scholarship Test Worksheet With Answers - Dual/integrated Program For Two Year
Education
Mat1033 Practice Exam 5 Worksheet With Answer Key - Professor George Jahn, Palm Beach State College
Education
Related Categories
Parent category: Education