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Question 11 0.8 pts The point at which a certain combination of two goods yields the most utility is the maximization point interference point. balance point intersection curve Oindifference point Question 12 0.8 pts Someone who is not a morning person is often heard saying, lm cranky until Ive had a cup of coffee. After that first cup of coffee (and a mood improvement), the person experiences the uncommon phenomenon of That is, of course, until the stress of a typical day takes its toll. increasing marginal utility O rebounding utility decreasing marginal utility constant marginal utility O rare utility

Question 1:3 0.8 pts After reading the nutritional label on the box of his favorite cookies, Ernesto was shocked to discover the high sugar content. As a result, cookies dont bring him the same satisfaction anymore, falling from 25 utils to 12 utils. Benefiting from more efficient machinery, Ernestos favorite cookie manufacturer also lowered the price per box. What happens to Ernestos marginal utility per dollar spent? O It increases. It stays the same. The rate of change decreases. OIt decreases. O There is not enough information to determine Question 14 0.8 pts When comparing two goods for purchase, it is useful to acknowledge the marginal utility and the dollar price. The optimizing decision requires choosing the good with the equivalent marginal and dollar prices. lower marginal price. Ohigher marginal utility per dollar. O higher total utility per dollar. higher marginal utility

Question 15 0.8 pts Sharon has eaten a lot of pizza in the past few years. In fact, shes growing tired of pizza. Recently, she realized that pizza no longer brings her the same satisfaction, falling from 12 utils to 7 utils. Benefiting from higher productivity, Sharons favorite pizzeria also lowered prices from $2 to $1 per slice. What happens to Sharons marginal utility per dollar spent? O It decreases O There is not enough information to determine The rate of change decreases. It stays the same It increases

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Answer #1

Q11. Option 5. At a point where the utility derived is same from both goods
Q12. Option 3. The utility derived by additional cup of coffee starts to decrease
Q13. Option 5. It needs the price information too
Q14. Option 3. Marginal utility are consider while selecting the goods
Q15. Option 5.

Q

P

Utility per dollar spent

12

2

6

7

1

7
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