The marginal utility from the first burrito Bobby consumes is larger t

1.Suppose Chris's marginal utility from the first taco he eats is 15, and his marginal utility from the second taco he eats is 12. One can infer that:选项： A:Chris should eat two tacos.; B:Chris's total utility from eating two tacos is 27.; C:Chris's average utility from eating two tacos is 27.; D:Chris should eat one taco.

2. Bobby consumes only chocolate ice cream and vanilla ice cream. He is spending all of his income. His marginal utility of chocolate is 100 and his marginal utility of vanilla is 200, and the price of chocolate is $1.00 per scoop and the price of vanilla is $2.00 per scoop. To maximize his utility, Bobby should 选项： A、 buy more chocolate ice cream and less vanilla ice cream. B、 buy more vanilla ice cream and less chocolate ice cream. C、 not change his purchases between chocolate ice cream and vanilla ice cream. D、 buy no chocolate ice cream.

3.According to the law of diminishing marginal utility:选项： A:as you consume less of something, your marginal utility from consuming that good will increase.; B:you should never consume more of something if your marginal utility is decreasing.; C:if your total utility is increasing as you consume more of something, then your marginal utility must be increasing as well.; D:as you consume less of something, your total utility will decrease.

4.The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. Which of the following correctly illustrates the principle of diminishing marginal utility? The fact that 选项： A: the sixth magazine has less marginal utility than the sixth CD. B: Jane's marginal utility per dollar from the second magazine is the same as her marginal utility per dollar from the third CD. C: the marginal utility per dollar from the sixth magazine is less than the total utility from six magazines. D: the marginal utility of the third CD is less than the marginal utility of second CD.

5.Monica consumes only goods A and B. Suppose that her marginal utility from consuming good A is equal to 1/Qa, and her marginal utility from consuming good B is 1/Qb. If the price of A is $0.50, the price of B is $4.00, and the Monica's income is $120.00, how much of good A will she purchase? 选项： A:0 B:12 C:24 D:48 E:120

6. Marginal utility theory assumes that when Sally consume less of a good that she was previously consuming more than one unit of, her ________. 选项： A、 total utility increases B、 marginal utility increases C、 income increases D、 total utility is maximized

7.【单选题】Monica consumes only goods A and B. Suppose that her marginal utility from consuming good A is equal to 1/Qa, and her marginal utility from consuming good B is 1/Qb. If the price of A is $0.50, the price of B is $4.00, and the Monica's income is $120.00, how much of good A will she purchase? 选项： A、0 B、12 C、24 D、48 E、120

8.Rembrandt paintings are expensive and not as vital for life as milk, which is cheap. Marginal utility theory explains this paradox of value: The total utility from a Rembrandt painting is ( ) than the total utility from milk, and the marginal utility from a Rembrandt painting is ( ) than the marginal utility from milk. 选项： A、smaller; smaller B、smaller; larger C、larger; smaller D、larger; larger

9.Keesha consumes only milkshakes and burgers. At her consumer equilibrium, which of the following is true when Keesha can buy any portion of a unit of a milkshake or burger? 选项： A: The marginal utility per dollar from a milkshake will exceed the marginal utility per dollar from a burger if she likes burgers more than milkshakes. B: The marginal utility per dollar from a burger will exceed the marginal utility per dollar from a milkshake if she likes burgers more than milkshakes. C: The marginal utility per dollar will be the same for each good. D: The marginal utility will be the same for each good.

10.Mr Smith has a limited income which restricts the number of different goods he can buy. Which one of the following best describes the position at which Mr Smith's utility from purchasing different goods is maximised?选项： A:Marginal utility from each good is equal; B:Ratio of marginal utility to price is equal for each good; C:Marginal utility from each good is 0; D:Total utility from each good is equal

11.Mr Smith has a limited income which restricts the number of different goods he can buy. Which one of the following best describes the position at which Mr Smith's utility from purchasing different goods is maximised? A. Marginal utility from each good is equal B. Ratio of marginal utility to price is equal for each good C. Marginal utility from each good is 0 D. Total utility from each good is equal

12.Renee consumes pizza and rice. An increase in her income causes her to consume fewer pizzas and more rice. The change in pizzas consumed means that 选项： A、her total utility from consuming pizzas had been negative. B、her marginal utility from consuming pizzas had been negative. C、her marginal utility from consuming pizzas had been zero. D、pizza is an inferior good for Renee.

13.The table above gives Jane's total utility from magazines and CDs. Initially the price of a magazine is $4 and the price of a CD is $10. Suppose the price of a magazine stays at $4 each, but the price of a CD falls to less than $10.00 each. With a $70.00 budget, the 选项： A: marginal utility per dollar from CDs increases and Jane buys more CDs in the new equilibrium. B: marginal utility per dollar from CDs decreases and Jane buys fewer CDs in the new equilibrium. C: marginal utility from magazines increases and Jane buys more magazines in the new equilibrium. D: marginal utility from magazines does not change so Jane buys fewer magazines in the new equilibrium.

14.We can explain the paradox of value as follows: The consumer surplus from water, which is cheap, is ( ) than the consumer surplus from gold, which is expensive; the total utility from gold is ( ) than the total utility from water; and the marginal utility per dollar spent on water ( ) the marginal utility per dollar spent on gold. 选项： A、greater; less; equals B、smaller; less; equals C、greater; greater; greater than D、less; greater; greater than

15.John has $40 to spend
on pizza and tacos. Pizza costs $10 each and tacos are $1 per taco.
John's real income ________. ( ) 选项： A、is $40 B、is 4 pizzas or 40 tacos C、is 4 pizzas plus 40 tacos D、depends only on his money wage

16. You are the new vice president in charge of advertising at Taco Bell. In your upcoming advertising campaign, you plan to degrade the fast food competitor whose product is the closest substitute for Taco Bell's tacos. That would be the fast food chain whose cross elasticity of demand with your tacos is equal to 选项： A、 negative 2.11. B、 negative 1.75. C、 positive 1.55. D、 positive 1.00.

17.The table above shows the total utility from the two goods Freddy likes to consume. Suppose that Freddy has already eaten 5 bags of Fritos. If he consumes one more bag, his marginal utility will 选项： A: equal 40. B: equal 35. C: equal 15. D: depend on the price of the extra bag.

18.The marginal rate of substitution between two goods equals ( )选项： A: the marginal utility of one divided by the marginal utility of the other.; B: the marginal utility of one times the marginal utility of the other.; C: the marginal cost of one times the marginal cost of the other.; D: the price of one good divided by the price of the other.

19.The marginal rate of substitution between two goods equals ( ) 选项： A、 the marginal utility of one divided by the marginal utility of the other. B、 the marginal utility of one times the marginal utility of the other. C、 the marginal cost of one times the marginal cost of the other. D、 the price of one good divided by the price of the other.

20.If Bobby decides that his marginal utility per dollar spent onvanilla ice cream exceeds his marginal utility per dollar spent onchocolate ice cream, he should then ( ) A: buy more chocolate ice cream and less vanilla ice cream. B: buy more vanilla ice cream and less chocolate ice cream. C: buy all the vanilla ice cream he can. D: never buy chocolate ice cream.

21.The relationship between the marginal utility that David gets from eating ice cream sundaes and the number of ice cream cones he eats per week is as follows:Ice Cream Sundaes 1 2 3456Marginal Utility201612840David receives 3 units of utility from the last dollar spent on each of the other goods he consumes. If ice cream sundaes cost $4 each, how many ice cream sundaes will he consume per month if he maximizes utility?选项： A:2; B:3; C:4; D:5

22.The term ___________________ is used to describe the common pattern whereby eachMarginal unit of a consumed good provides less of an addition to utility than the previous unit. 选项： A: diminishing marginal utility B: marginal utility pattern C: marginal income utility D: decreasing marginal utility

23.As long as the marginal utility per dollar from pizza is greater than the marginal utility per dollar from soda, then to maximize utility a consumer will buy 选项： A、more soda to equalize the marginal utility per dollar between soda and pizza. B、less pizza and less soda. C、more pizza and less soda. D、equal amounts of pizza and soda.

24.If the price of a good increases, a consumer will substitute away from the relatively more expensive good, which will increase the marginal utility for that good and bring the consumer back to equilibrium. 选项： A:正确 B:错误