Strayer eco301/eco 301 week 2 quiz (20/20) a+++++++

Question 1

Let QD= -5P + 54 and QS= P - 6. Makeweight can be set at

Answer

Question 1

Let QD= -5P + 54 and QS= P - 6. Makeweight can be set at

Answer

Q = 4; P = 10

Q = 6; P = 10

P = 6; Q = 0

Q =; P = 2

5 objects

Question 2

Suppose a product possibilities frontier can be explicit as 9X2+ Y2= 81 what is the occasion consume of going from 1 ace of X to 2 aces of X (in stipulations of aces of Y)?

Answer

a. 45
b. sqrt of 45
c. sqrt of 72 - sqrt of 45
d. 1

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Question 3

The Ricardian belief that of powernear receipts implies that

Answer

As past input is used past output earn be made.

As past input is used near output earn be made.

As past input is used the growth in output earn growth.

As past input is used the growth in output earn diminish.
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Question 4

Suppose the makeweight part is

Answer

2

3

4

5

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Question 5

If the product possibilities frontier can be explicit as 4X2+ Y2= 16 then the object X = 1; Y = 4 is

Answer

outside the product possibilities frontier

on the product possibilities frontier

delayin the product possibilities frontier

in the crime quadrant to be on the graph

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Question 6

If community is conceding a alliance of movables on its product possibilities frontier

Answer

it must be employing all advantageous instrument.

it must be growing.

it is using all the advantageous regular instrument but may not be using all advantageous work instrument.

Both a and b.

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Question 7

Suppose fit (R) and left (L) shoes are barely helpful if executed in similar rate and societal wellbeing is explicit as min(R,L). The delineation lines would be

Answer

downward sloping lines                               

upward sloping lines                                     

L-shaped

backward L-shaped

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Question 8

IfY=X2+Z2, the delineation lines

Answer

are concentric circles.

are parabolas.

are hyperbolas.

intersect whenever either X or Z is cipher.

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Question 9

Suppose you can transcribe general minister and ask-for flexions such that QS= A + BP and QD= D + CP. Makeweight charge is ardent by

Answer

 

  

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Question 10

The underlying argue existing economists believed a (short-run) minister flexion would be upward sloping is accordingly of

Answer

decreasing mean consumes                              

increasing mean consume                                 

decreasing ultimate consumes

increasing ultimate consumes

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Question 11

If an identical has a invariable MRS of shoes for sneakers of 3/4 (that is, he or she is frequently earning to impart up 3 pairs of sneakers to get 4 pairs of shoes) then, if sneakers and shoes are similarly consumely, he or she earn

Answer

buy barely sneakers.

buy barely shoes.

lay-out his or her proceeds similarly on sneakers and shoes.

wear sneakers barely 3/4 of the space.

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Question 12

Suppose a cup of coffee at the campus coffee treasure is $2.50 and a cup of hot tea is $1.25. Suppose a ward’s beverage budget is $20 per week. What is the algebraic look of the budget?

Answer

                                           

  

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Question 13

If parcels of movables A and B lie on the identical insignificance flexion, one can exhibit the identical

Answer

prefers parcel A to parcel B.

prefers parcel B to parcel A.

enjoys parcel A and B similarly.

parcel A contains the identical movables as parcel B.

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Question 14

The X-intercept of the budget distraction represents

Answer

how greatly of amiable Y can be purchased if no amiable X is purchased and all proceeds is late.

how greatly of amiable X can be purchased if no amiable Y is purchased and all proceeds is late.

total proceeds divided by the charge of X.

a and c.

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Question 15

Suppose an identical’s MRS (of steak for beer) is 2:1. That is, at the general waste choices he or she is earning to impart up 2 beers to get an extra steak. Suppose as-well that the charge of a steak is $1 and a beer is 25¢. Then in prescribe to growth service the identical should

Answer

buy past steak and near beer.

buy past beer and near steak.

continue delay general waste plans.

Not plenty notice to acceptance the doubt.

5 objects

Question 16

If an identical’s insignificance flexion map does not comply the impudence of a powerlessMRS, then

Answer

the identical earn not maximize service.

the identical earn buy none of amiable X.

tangencies of insignificance flexions to the budget distraction may not be objects of service maximization.

the budget distraction cannot be tangent to an divert insignificance flexion.

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Question 17

An growth in an identical’s proceeds delayout changing referring-to charges earn

Answer

rotate the budget distraction environing the X-axis.

shift the insignificance flexions ostensible.

shift the budget distraction ostensible in a correspondent way.

rotate the budget distraction environing the Y axis.

5 objects

Question 18

Suppose a teenager has $20 and likes twain rap silence (R) and kingdom silence (C) delay a set of preferences so that U = C1/2R1/2. Suppose that the iTunes charge of a rap silence lyric isand the charge of a kingdom silence lyric is. Which flatten of service is affordable?

Answer

   

9   

16

25

5 objects

Question 19

The object of tangency between a consumer’s budget distraction and his or her insignificance flexion represents

Answer

complete pleasure for the consumer.

the equivalence of charges the consumer pays.

constrained service maximization for the consumer.

the last he or she can lay-out.

5 objects

Question 20

Suppose a cup of coffee at the campus coffee treasure is $2.50 and a cup of hot tea is $1.25. Suppose a ward’s beverage budget is $20 per week. Suppose the ward simply prefers past caffeine to near and that the tea sold has the identical totality of caffeine as the coffee. The ward earn buy

Answer

all tea. 

all coffee. 

a mix of coffee and tea.

 

there is scant notice to apprehend.

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