Antony's Pizza uses the same dough, sauce, and cheese for pizza and ca

1.The owner of a pizza shop observes that when she raises the price of a large pizza, her total revenue decreases, and when she lowers the price of a large pizza, her total revenue increases. This suggests that:选项： A:pizza lovers act irrationally.; B:the demand for her large pizzas is elastic with respect to price.; C:the demand for her large pizzas is inelastic with respect to price.; D:there are few good substitutes for a large pizza.

2.A decrease in the price of pizza will shift the supply curve for pizza to the left.选项： A:正确; B:错误

3.Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and price in the market for pizza?

4.As Lynn eats more pizza, we would typically expect her marginal utility from eating pizza to:A.equal the price of pizza.B.increase.C.stay the same.D.decrease.

5.As Lynn eats more pizza, we would typically expect her marginal utility from eating pizza to:选项： A:equal the price of pizza.; B:increase.; C:stay the same.; D:decrease.

6.The only goods you consume are pizza and soda. Both are normal goods. You consider pizza and soda to be substitutes. Which of the following will lead you to eat more pizza? 选项： A: The price of a pizza falls. B: The price of a soda falls. C: The price of a soda rises. D: Both answers A and C are correct.

7.When Dominant Pizza is willing to sell a pizza to a student who lives on-campus at a lower price than it sells the identical pizza to a student who lives a block away from the campus, the pizza firm is ________. 选项： A:practicing price discrimination B:unfair C:incurring a loss on on-campus sales D:eliminating all competition

8.In a simple model of the supply and demand for pizza, when buyers' income increases, the price of pizza ______ and the quantity purchased ______. 选项： A:increases; decreases B:increases; increases C:decreases; increases D:decreases; decreases

9.(单选题)Which of the following will shift the demand curve for pizza to the right? 选项： A: an increase in the price of hamburgers, a substitute for pizza B: an increase in the price of root beer, a complement to pizza C: the departure of college students, as they leave for summer vacation D: a decrease in the price of pizza

10.128) Suppose the price of soda is $2 cach and the priof a pizza slice is $4 each. David maximizes hceutility by buying only sodas and pizza. He buys 5sodas and 10 slices of pizza. If the price of a soda$3 each, David willA)decrease the number of sodas bought and theill shift leftwardB) decrease the number of sodas bought and moveuy more pizza and move along the demanD) buy less pizza and the demand curve for pizzawill shift leftward

11.An increase in the price of pizza will shift the demand curve for pizza to the left.

12.A decrease in the price of pizza will选项： A:decrease the quantity of pizza demanded.; B: increase the quantity of pizza demanded.; C:decrease the demand for pizza.; D: increase the demand for pizza.

13.The only goods you consume are pizza and soda. Both are normal goods. For you, pizza and soda are substitutes. Which of the following leads you to buy more of both goods? 选项： A、The price of a pizza falls. B、The price of a soda falls. C、Your income increases. D、Both answers A and B are correct.

14.17) Joc has $50, which hepizza. If the price of a pizza fallAof both goods.B) consume more pizza only if hee gives up someC) consume more movies only if hgives up somepizza.D

15.Tommy buys only soda and pizza and is buying the amounts that maximize his utility. The marginal utility from a soda is 5 and the price of a soda is $1. The marginal utility from a slice of pizza is 10. The price of a slice of pizza must be 选项： A、$10. B、$2. C、$1. D、some amount that cannot be calculated without more information.

16.Compared to a single-price monopoly, a perfectly competitive market with the same costs produces ________ output and has a ________ price. 选项： A:less; lower B:less; higher C:more; lower D:more; higher

17.Suppose Joe can prepare 10 sandwiches or 5 pizzas in an hour and Beth can produce 12 sandwiches or 9 pizzas. Which of the following is true 选项： A、Beth should produce pizza because she has a higher opportunity cost of producing pizza than does Joe. B、Beth should produce pizza because she has a lower opportunity cost of producing pizza than does Joe. C、Joe should produce pizza because he has a higher opportunity cost of producing pizza than does Beth. D、Joe should produce pizza because he has a lower opportunity cost of producing pizza than does Beth.

18.A cup of coffee is _____ than dinner out at a fancy restaurant because _____. 选项： A、less price elastic; it is a smaller portion of one's income B、more price elastic; it is a smaller portion of one's income C、less price elastic; it is more of a luxury good D、more price elastic; it is more of a luxury good

19.Joe consumes pizza and movies. He is currently spending his entire income and his marginal utility of pizza is 15 and his marginal utility of movies is 10. If the price of a pizza is $10 and the price of a movie is $5, then to maximize his utility Joe should 选项： A、increase consumption of pizza and decrease consumption of movies. B、increase consumption of movies and decrease consumption of pizza. C、not change his current bundle of movies and pizza. D、increase consumption of both goods.

20.Pizza and beer are complementary goods for consumers in a local market. The beer industry, which has constant marginal cost, is perfectly competitive and is now in long run equilibrium. If the market price of pizza permanently decreases, which of the following statements is correct about the beer market in the short run?选项： A:The market price of beer falls and each firm produces less beer. B:The market price of beer does not change, but the quantity increases because new firms enter the beer industry. C:The market price of beer does not change, but the quantity decreases because some firms exit the industry D:The market price of beer rises and each firm produces more beer

21.Suppose that at Miles's current level of consumption, his marginal utility from a pizza is 10 utils, and his marginal utility from a pint of ice cream is 16 utils. If the price of a pizza is $8, and the price of a pint of ice cream is $5, is Miles maximizing his utility?选项： A:Yes. He should not change his spending on frozen pizza and ice cream.; B:No. He should shift his spending away from ice cream and towards frozen pizza.; C:No. He should shift his spending away from frozen pizza and towards ice cream.; D:No. He should buy less frozen pizza and less ice cream.

22.Katie finds that the marginal utility from a compact disc is 30 and the marginal utility from a pizza is 10. The price of a compact disc is $15 and the price of a pizza is $10. In order to increase her utility, Katie should 选项： A: consume more compact discs and fewer pizzas. B: consume fewer compact discs and more pizzas. C: not change her consumption of pizza and compact discs. D: consume fewer compact discs and fewer pizzas.

23.Which of the following is a positive statement 选项： A、The government must provide health insurance so that the poor can obtain decent medical treatment. B、The government should spend more on education. C、My favorite dinner is pizza and soda. D、An increase in the price of pizza will lead fewer students to buy pizza.

24.Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. If Dave buys 20 magazines per week, which of the following amount of pizza is not affordable to him? 选项： A、10 B、20 C、9 D、All of the above answers are correct because none of the listed amounts of pizza are affordable.