4759556
Questão 1
Questão
Marginal utility is a measure
Responda
-
of total utility derived from consuming a given amount of a good
-
of the total utility gained from consuming an extra unit of a good
-
computed by dividing total utility by the amount of a good consumed
-
determined by a production condition in a market
Questão 2
Questão
"the second glass of Evian water was very good. May I have another?" which of the following is necessarily true regarding this statement?
Responda
-
the marginal utility of the second glass is negative
-
the marginal utility of the second glass is less than the marginal utility of the first glass
-
the marginal utility of the second glass is positive
-
the water is free
Questão 3
Questão
Total utility can be calculated as the
Responda
-
sum of all marginal utilities
-
price paid for one unit of a good
-
product of all marginal utilities
-
total expenditure on all units of a good the consumer buys
Questão 4
Questão
Demand curves usually slope downward because of the income and substitution effects, and because of the law of diminishing marginal utility
Responda
- True
- False
Questão 5
Questão
Newspaper vending machines illustrate that publishers believe
Responda
-
the average utility of 2 identical papers is 0 or less
-
the total utility from 2 identical newspapers is 0 or less
-
the marginal utility of a second identical newspaper is 0 or less
-
the marginal utility of a second identical newspaper is greater than the marginal utility of the first newspaper
Questão 6
Questão
Diminishing marginal utility means that
Responda
-
as you consume more of a good, other things constant, the total satisfaction you obtain from consuming this good tends to fall
-
as you hire more labor, other things constant, the total amount produced begins to fall
-
as you hire more labor, other things constant, the marginal product begins to fall
-
as you consume more of a good, other things constant, the additional satisfaction you obtain from each additional unit of the good tends to fall
-
as you consume more of a good, other things constant, the extra satisfaction you obtain from each extra good becomes negative
Questão 7
Questão
The marginal utility of a second copy of today's New York Times is
Responda
-
infinite
-
practically zero
-
positive and greater than the marginal of the first copy
-
equal to the marginal utility of the first copy
Questão 8
Questão
Which of the following sayings describes the concept of diminishing marginal utility?
Responda
-
time is money
-
penny wise and pound foolish
-
absence makes the heart grow founder
-
a penny saved is a penny earned
Questão 9
Questão
the reason you don't drink 5 cups of coffee at breakfast is that
Responda
-
the marginal utility of extra cups of coffee eventually diminishes
-
most people cannot afford 5 cups
-
the total utility of coffee rises as you consume more cups
-
the price of coffee rises as you consume more cups
Questão 10
Questão
Joe the economist tells his wife, Jane, that he wants to spend a weekend fishing with friends. She replies "you don't love me anymore". Just before she hits Joe with a croquet mallet, Joe explains to her that she has confused the concepts of
Responda
-
marginal utility and price
-
income and price
-
marginal utility and total utility
-
love and death
Questão 11
Questão
In exhibit 6-12, consumer surplus at a price of $2 is the difference between what consumers are willing to
Responda
-
pay for a quantity of goods and what they actually pay, represented by triangle abc
-
pay for a quantity of goods and what they actually pay, represented by triangle dcb
-
pay for a quantity of goods and what they actually pay, represented by triangle adc
-
receive for a good and what they actually get, represented by triangle abc
Questão 12
Questão
Which area in exhibit 6-13 represents consumer surplus at market equilibrium?
Responda
-
area a
-
area b
-
area c
-
area a+b+c
-
area a+b
Questão 13
Questão
Suppose I am willing to pay $300 for roller blades and I purchase them on sale for $200. My consumer surplus is
Responda
-
$300
-
3/2
-
$100
-
$200
-
$0
Questão 14
Questão
The consumers' surplus derived from the last unit of a good purchased
Responda
-
tends to be less than 0
-
tends to be equal to 0
-
tends to be equal to the price of the good
-
tends to be greater than the price of the good
Questão 15
Questão
The market demand curve is
Responda
-
any individual's demand curve multiplied by the number of consumers in the market
-
the relationship between income and quantity demanded
-
the horizontal sum of the individual demand curve for all consumers in the market
-
the vertical summation of all individual demand curves
Questão 16
Questão
A measure of consumer surplus in any market is
Responda
-
total expenditure on the good
-
the area above the supply curve and below the price
-
the area beneath the demand curve
-
the area beneath the demand curve and above the price
Questão 17
Questão
Consumers derive consumer surplus whenever
Responda
-
the monetary value of total utility equal total expenditure
-
the monetary value of total utility is greater than total expenditure
-
The monetary value of total utility is less than total expenditure
-
marginal utility is greater than total utility
Questão 18
Questão
For any given price, the more elastic the demand for a product is, the greater will be the consumer surplus
Responda
- True
- False
Questão 19
Questão
When a service, such as medical care, is provided free of charge,
Responda
-
most people consume an infinite amount of it
-
most people do not much care about getting good value for their money
-
people do not derive any consumer surplus from it
-
we say that the demand for it is perfectly elastic
Questão 20
Questão
Refer to exhibit 6-17. If D, D', and D" represents the demand curves for the only 3 consumers in the market, then the market quantity demanded at a price of $15 will be
Responda
-
150
-
120
-
90
-
60
-
30
Questão 21
Questão
refer to exhibit 6-17. If D, D', and D" represents the demand curves for the only 3 consumers in the market, then the market quantity demanded at a price of $45 will be
Responda
-
50
-
70
-
90
-
110
-
130
Questão 22
Questão
Refer to exhibit 6-17. If D, D', and D" represent the demand curves for the only 3 consumers in the market, then the market quantity demanded at a price of $30 will be
Responda
-
40
-
60
-
80
-
100
-
120
Questão 23
Questão
refer to exhibit 6-17. If D, D', and D" represent the demand curve for the only 3 consumers in the market, then the market demand curve will be more ____ than each of the 3 individual demand curves
Responda
-
steep (slope will be more negative)
-
elastic
-
flat (slope will be less negative)
-
inelastic
Questão 24
Questão
Suppose Jerry consumers 3 hamburgers at McDonald's one evening. He figured the last one was just worth the price he paid for it. If the hamburgers he buys have a price of $1. then
Responda
-
her earned no consumer surplus
-
he would have earned consumer surplus if he had eaten one more hamburger
-
he was irrational
-
he may have earned consumer surplus on the first 2 hamburgers
Questão 25
Questão
If you buy a good, its expected marginal value to you
Responda
-
may be greater than or equal to but not less than its price
-
may be less than or equal to but not greater than its price
-
is less than its price
-
is greater than its price
Questão 26
Questão
When the price is P in exhibit 6-11, the shaded area represents
Responda
-
a shortage
-
producer surplus
-
a price floor
-
consumer surplus
Questão 27
Questão
Consumer surplus is
Responda
-
the difference between the maximum amount that a consumer is willing to pay for a given amount of a good and the amount that the consumer actually pays
-
the difference between the price of the good paid by the consumer and the costs of production to the seller
-
the amount by which quantity supplied exceeds quantity demanded at the current market price
-
the amount by which quantity demanded exceeds quantity supplied at the current market price
Questão 28
Questão
At point b in exhibit 6-9, total utility is valued at
Responda
-
$30, consumer expenditure is $20, and consumer surplus is $10
-
$26, consumer expenditure is $20, and consumer surplus is $6
-
$20, consumer expenditure is $20, and consumer surplus is $0
-
$30, consumer expenditure is $4, and consumer surplus is $26
Questão 29
Questão
What happens to consumer surplus as price falls along a given demand curve?
Responda
-
it always increases
-
it always decreases
-
it never changes
-
it only increases if price increases just a little
Questão 30
Questão
when price decreases, consumer surplus
Responda
-
increases
-
remains constant
-
decreases
-
becomes negative
Questão 31
Questão
at point a in exhibit 6-9, consumer surplus is
Responda
-
$0
-
$5
-
$6
-
$20
-
$26
Questão 32
Questão
Elvis values the first gravy sandwich at $5, the second at $4.50, and the third at $4. If he buys three for $4 each, his consumer surplus is
Responda
-
$5
-
$4
-
$1.50
-
$9.50
-
$12
Questão 33
Questão
On a normal day, Emily Mapai's demand curve for a cup of hot chocolate is initially shown as D in exhibit 6-15. On a day when the high temperature does not get above zero degrees, her demand curve increases to D'. At price P for a cup of hot chocolate, Emily's consumer surplus on a freezing day
Responda
-
cannot be determined without calculating an exact marginal valuation
-
increases a great deal over her consumer surplus on a normal day
-
will vary depending on whether hot chocolate is a normal or an inferior good
-
increases only if her demand curve is unit elastic
Quer criar seus próprios Quizzes gratuitos com a GoConqr? Saiba mais.