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2025-03-22 23:57 本頁面
【正文】 s budget line is 15F + 45C = 900. When Joe chooses his most preferred market basket, he buys 10 units of C. therefore, he also buys : a. 10 units of F b. 30 units of F c. 50 units of F d. 60 units of F e. None of the aboveChoose: b) We assume that Joe will spend all his ine. If C = 10, then 15F =900 – 45(10) =450, so F = 450/15 =30.3. Kim only buys coffee and pact discs. Coffee costs $ per cup, and CDs cost $ each. She has $18 per week to spend on these two goods. If Kim is maximizing her utility, her marginal rate of substitution of coffee for CDs is: a. b. 20 c. 18 d. e. None of the aboveChoose: a) At Kim39。s most preferred market basket, her MRS equals the price ratio (Pcoffee/PCD), which equals 4. The bandwagon effect corresponds best to which of the following?a. snob effect.b. external economy.c. negative network externality.d. positive network externality.Choose: d)5. A Giffen gooda. is always the same as an inferior good.b. is the special subset of inferior goods in which the substitution effect dominates the ine effect.c. is the special subset of inferior goods in which the ine effect dominates the substitution effect.d. must have a downward sloping demand curve.Choose: c) the definition of Giffen good6. An Engel curve for a good has a positive slope if the good is :a. an inferior good. b. a Giffen good.c. a normal good. d. a, b, and c are true.e. None of the above is true.Choose: c) Inferior and Giffen goods have negatively sloped Engel curves.7. The price of beef and quantity of beef traded are P* and Q*, respectively. Given this information, consumer surplus is the area:a. 0BCQ* b. ABC c. ACP* d. CBP* e. 0ACQ*Choose: d) Consumer surplus is the area between the demand line and the price.8. In Figure 1, hol
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