Ec2100 Topic 07 Quiz

Your quiz has been submitted successfully.Question 11 / 1 pointA budget line shows theA) total utility a consumer realizes from consuming different quantities of a good.B) relationship between price and quantity demanded.C) quantities of goods a buyer can purchase with given income and prices.D) the prices of the two goods a buyer can purchase.E) quantities of consumption that maximizes marginal utility.Question 21 / 1 pointThe point where the budget line intersects the y-axis represents a combination of goods that containsA) only the good measured on the y-axis.B) some of both goods.C) no goods.D) the quantity of the good measured on the y-axis that has zero marginal utility.E) only the good measured on the x-axis.Question 31 / 1 pointAn increase in a consumer's budgetA) has no effect on the consumer's budget line.B) increases consumption possibilities.C) changes the slope of the budget line.D) changes the relative prices of the goods.E) decreases consumption possibilities.Question 41 / 1 pointIn economics, utilityA) is an index of satisfaction.B) and relative price are the same thing.C) always decreases as income increases.D) equals opportunity cost.E) is measured by the same units as relative price.Question 51 / 1 pointUtility