Question 1

Figure: Budget Lines for Oranges and Apples
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has had $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if his income decreases to $2.50? 
A.Chart A
B.Chart B
C.Chart C
D.Chart D

Accepted Answer

The answer of  Figure: Budget Lines for Oranges and...

Question 2

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend on both goods.The maximum number of bags of peanuts that you can purchase is:
A.5.
B.10.
C.20.
D.40.

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 3

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend.You decide to purchase 6 boxes of popcorn.The maximum number of bags of peanuts that you can purchase is _.
A.4
B.8
C.10
D.12

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 4

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend.You decide to purchase 20 bags of peanuts.The maximum number of boxes of popcorn that you can purchase is:
A.8.
B.10.
C.12.
D.16.

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 5

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend.You decide to purchase 8 bags of peanuts.The maximum number of boxes of popcorn that you can purchase is:
A.4.
B.8.
C.10.
D.16.

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 6

Adam has a monthly income of $20 that can be spent on books (B) and pencils (P).The price of a book is $5 and the price of a pencil is $0.50.Which of the following bundles of books and pencils is unaffordable?
A.4 books and zero pencils
B.2 books and 30 pencils
C.1 book and 20 pencils
D.2 books and 20 pencils

Accepted Answer

The answer of Adam has a monthly income of $20...

Question 7

Figure: Budget Lines for Oranges and Apples
   (Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if the price of an apple rises to $0.50? 
A.Chart A
B.Chart B
C.Chart C
D.Chart D

Accepted Answer

The answer of Figure: Budget Lines for Oranges and Apples
...

Question 8

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend on both goods.The maximum number of bags of peanuts that you can purchase is:
A.5.
B.10.
C.20.
D.40.

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 9

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend.You decide to purchase 8 boxes of popcorn.The maximum number of bags of peanuts that you can purchase is:
A.4.
B.8.
C.10.
D.12.

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 10

Figure: Budget Lines for Oranges and Apples
   (Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has had $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if the price of an orange falls to $0.25? 
A.Chart A
B.Chart B
C.Chart C
D.Chart D

Accepted Answer

The answer of Figure: Budget Lines for Oranges and Apples
...

Question 11

A decrease in a consumer's income will do all of the following except:
A.shift the budget line away from the origin.
B.decrease the horizontal intercept.
C.decrease the vertical intercept.
D.reduce the individual's consumption possibilities.

Accepted Answer

The answer of A decrease in a consumer's income will...

Question 12

Figure: Budget Lines for Oranges and Apples
   (Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has had $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if the prices of the two goods double? 
A.Chart A
B.Chart B
C.Chart C
D.Chart D

Accepted Answer

The answer of Figure: Budget Lines for Oranges and Apples
...

Question 13

For Domingo, the optimum consumption bundle is the one that ____ __ his ___ , given his budget
constraint.
A.minimizes; utility
B.maximizes; utility
C.maximizes; opportunity cost
D.minimizes; opportunity cost

Accepted Answer

The answer of For Domingo, the optimum consumption bundle is...

Question 14

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend on both goods.The maximum number of boxes of popcorn that you can purchase is:
A.5.
B.10.
C.20.
D.40.

Accepted Answer

The answer of The price of popcorn is $0.50 per...

Question 15

Adam has a monthly income of $20 that can be spent on books (B) and pencils (P).The price of a book is $5 and the price of a pencil is $0.50.Which of the following bundles of books and pencils is affordable but does not use all of Adam's income?
A.1 book and 30 pencils
B.zero books and 40 pencils
C.2 books and 20 pencils
D.1 book and 10 pencils

Accepted Answer

The answer of Adam has a monthly income of $20...

Question 16

Adam has a monthly income of $20 that can be spent on books (B) and pencils (P).The price of a book is $5 and the price of a pencil is $0.50.The equation for Adam's daily budget constraint can be written as:
A.5(B) + 0.50(P) ≤ 20
B.0.50(B) + 5(P) ≤ 20
C.20(B) + 0.50(P) ≤ 5
D.0.50(B) + 20(P) ≤ 5

Accepted Answer

The answer of Adam has a monthly income of $20...

Question 17

Figure: Budget Lines for Oranges and Apples
  (Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has had $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if the prices of the two goods fall by 20%? 
A.Chart A
B.Chart B
C.Chart C
D.Chart D

Accepted Answer

The answer of Figure: Budget Lines for Oranges and Apples
...

Question 18

Figure: Budget Lines for Oranges and Apples
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has had $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if his income increases to $6?
A.Chart A
B.Chart B
C.Chart C
D.Chart D

Accepted Answer

The answer of Figure: Budget Lines for Oranges and Apples
(Figure:...

Question 19

Figure: Budget Lines for Oranges and Apples
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges and Apples.For some time, Antonio has had $5 per month to spend on oranges and apples.The price of an orange is $0.50 and the price of an apple is $0.25.Which of the charts shows what will happen to his budget line if the price of an orange rises to $1.00 and the price of an apple rises to $0.50?
A.Chart
B.A Chart
C.B Chart C
D.Chart D

Accepted Answer

The answer of Figure: Budget Lines for Oranges and Apples
(Figure:...

Question 20

Adam has a monthly income of $20 that can be spent on books (B) and pencils (P).The price of a book is $5 and the price of a pencil is $0.50.Which of the following bundles of books and pencils lies on Adam's budget line?
A.3 books and 5 pencils
B.1book and 40 pencils
C.2 books and 20 pencils
D.zero books and 20 pencils

Accepted Answer

The answer of Adam has a monthly income of $20...

Quiz 10: The Rational Consumer

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend on both goods.The maximum number of bags of peanuts that you can purchase is: A.5. B.10. C.20. D.40.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend.You decide to purchase 6 boxes of popcorn.The maximum number of bags of peanuts that you can purchase is _. A.4 B.8 C.10 D.12

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend.You decide to purchase 20 bags of peanuts.The maximum number of boxes of popcorn that you can purchase is: A.8. B.10. C.12. D.16.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend.You decide to purchase 8 bags of peanuts.The maximum number of boxes of popcorn that you can purchase is: A.4. B.8. C.10. D.16.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend on both goods.The maximum number of bags of peanuts that you can purchase is: A.5. B.10. C.20. D.40.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend.You decide to purchase 8 boxes of popcorn.The maximum number of bags of peanuts that you can purchase is: A.4. B.8. C.10. D.12.

A decrease in a consumer's income will do all of the following except: A.shift the budget line away from the origin. B.decrease the horizontal intercept. C.decrease the vertical intercept. D.reduce the individual's consumption possibilities.

For Domingo, the optimum consumption bundle is the one that his _ , given his budget constraint. A.minimizes; utility B.maximizes; utility C.maximizes; opportunity cost D.minimizes; opportunity cost

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend on both goods.The maximum number of boxes of popcorn that you can purchase is: A.5. B.10. C.20. D.40.

Quiz 10: The Rational Consumer

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend on both goods.The maximum number of bags of peanuts that you can purchase is: A.5. B.10. C.20. D.40.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend.You decide to purchase 6 boxes of popcorn.The maximum number of bags of peanuts that you can purchase is _. A.4 B.8 C.10 D.12

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend.You decide to purchase 20 bags of peanuts.The maximum number of boxes of popcorn that you can purchase is: A.8. B.10. C.12. D.16.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend.You decide to purchase 8 bags of peanuts.The maximum number of boxes of popcorn that you can purchase is: A.4. B.8. C.10. D.16.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend on both goods.The maximum number of bags of peanuts that you can purchase is: A.5. B.10. C.20. D.40.

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $5 to spend.You decide to purchase 8 boxes of popcorn.The maximum number of bags of peanuts that you can purchase is: A.4. B.8. C.10. D.12.

A decrease in a consumer's income will do all of the following except: A.shift the budget line away from the origin. B.decrease the horizontal intercept. C.decrease the vertical intercept. D.reduce the individual's consumption possibilities.

For Domingo, the optimum consumption bundle is the one that ____ __ his ___ , given his budget constraint. A.minimizes; utility B.maximizes; utility C.maximizes; opportunity cost D.minimizes; opportunity cost

The price of popcorn is $0.50 per box and the price of peanuts is $0.25 per bag, and you have $10 to spend on both goods.The maximum number of boxes of popcorn that you can purchase is: A.5. B.10. C.20. D.40.

For Domingo, the optimum consumption bundle is the one that his _ , given his budget constraint. A.minimizes; utility B.maximizes; utility C.maximizes; opportunity cost D.minimizes; opportunity cost