Refer to the graphs shown, which show indifference curve analysis with the associated demand curves.
If a consumer is able to move from point B to point C, she is also able to move from point:
A. H to point I.
B. E to point G.
C. D to point F.
D. H to point J.
Answer: D
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After eating four slices of pizza, you are offered a fifth slice for free. You turn down the fifth slice. Your refusal indicates that the
A. marginal utility for four pizza slices is negative. B. marginal utility is positive for the fourth slice and negative for the fifth slice. C. marginal utility for the fourth slice is the largest among all slices. D. total utility for five pizza slices is negative.
An increase in the price of gasoline shifts the demand for tires to the
A. left, because gasoline and tires are substitutes. B. left, because gasoline and tires are normally used together. C. right, because gasoline and tires are substitutes. D. right, because gasoline and tires are normally used together.
Refer to Scenario 9.1. The Nash equilibrium occurs when Sheb places ________ sheep on the commons and Monty places ________ sheep on the commons
A) 4; 4 B) 4; 5 C) 5; 4 D) 5; 5
Prejudice leads, inevitably, to economic discrimination.
Answer the following statement true (T) or false (F)