Refer to the information provided in Figure 6.15 below to answer the questions that follow. Number of ice cream sandwiches 100 Jo-el preferences and budget constraint E Number of ice cream cones 150 Question # 40: Refer to Figure 6.15. If the price of an ice cream cone is Php2, Jo-el's income is A) Php75. B) Php250. C) Php300. D) indeterminate because the price of ice cream sandwiches is not given. Question # 41: Refer to Figure 6.15. Jason maximizes utility at Point A) A. B) B. C) C. D) D. Question # 42: Refer to Figure 6.15. The slope of the indifference curve is the ratio of the A) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches. B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones. C) total utility of ice cream cones to the total utility of ice cream sandwiches. D) total utility of ice cream sandwiches to the total utility of ice cream cones.
Refer to the information provided in Figure 6.15 below to answer the questions that follow. Number of ice cream sandwiches 100 Jo-el preferences and budget constraint E Number of ice cream cones 150 Question # 40: Refer to Figure 6.15. If the price of an ice cream cone is Php2, Jo-el's income is A) Php75. B) Php250. C) Php300. D) indeterminate because the price of ice cream sandwiches is not given. Question # 41: Refer to Figure 6.15. Jason maximizes utility at Point A) A. B) B. C) C. D) D. Question # 42: Refer to Figure 6.15. The slope of the indifference curve is the ratio of the A) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches. B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones. C) total utility of ice cream cones to the total utility of ice cream sandwiches. D) total utility of ice cream sandwiches to the total utility of ice cream cones.
Chapter21: Demand: Consumer Choic
Section: Chapter Questions
Problem 1E
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