Answer the following questions
5. Refer to the above data. The value for Y is:
A. 25.
B. 30.
C. 40.
D. 45.
6. Refer to the above data. The value for X is:
A. 15.
B. 5.
C. 55.
D. 10.
7. Refer to the above data. The value for W is:
A. 15.
B. 20.
C. 25.
D. 30.
8. Refer to the above data. The value for Z is:
A. -5.
B. +5.
C. -10.
D. zero.
Answer the next question(s) on the basis of the following two schedules which show the
amounts of additional satisfaction (marginal utility) which a consumer would get from
successive quantities of products J and K.
34. Refer to the above data. If the consumer has a money income of $52 and the prices of J and
K are $8 and $4 respectively, the consumer will maximize her utility by purchasing:
A. 2 units of J and 7 units of K.
B. 5 units of J and 5 units of K.
C. 4 units of J and 5 units of K.
D. 6 units of J and 3 units of K.
35. Refer to the above data. What level of total utility is realized from the equilibrium
combination of J and K, if the consumer has a money income of $52 and the prices of J and K
are $8 and $4 respectively?
A. 156 utils
B. 124 utils
C. 276 utils
D. 36 utils
36. Refer to the above data. If the consumer's money income were cut from $52 to $28, and the
prices of J and K remain at $8 and $4 respectively, she would maximize her satisfaction by
purchasing:
A. 3 units of J and 3 units of K.
B. 1 unit of J and 3 units of K.
C. 4 units of J and 1 unit of K.
D. 2 units of J and 3 units of K.
Answer the next question(s) on the basis of the following marginal utility data for products X
and Y. Assume that the prices of X and Y are $4 and $2 respectively and that the consumer's
income is $18.
62. Refer to the above data. What quantities of X and Y should be purchased to maximize
utility?
A. 2 of X and 1 of Y
B. 4 of X and 5 of Y
C. 2 of X and 5 of Y
D. 2 of X and 6 of Y
63. Refer to the above data. What level of total utility will the utility-maximizing consumer
realize?
A. 96 utils
B. 108 utils
C. 72 utils
D. 142 utils
64. Refer to the above data. If the price of X decreases to $2, then the utility-maximizing
combination of the two products is:
A. 2 of X and 5 of Y.
B. 4 of X and 6 of Y.
C. 6 of X and 3 of Y.
D. 4 of X and 5 of Y.