《江西财经大学微观经济学试题库》part 3 review.docVIP

Microeconomics, 10e (Parkin) Part 3 Review Households Choices 1) Simon spends $150 per month on DVD movie rentals and music CDs. The price of a movie rental is $3 and a CD is $15. If Simon buys 10 CDs per month, how many DVDs will he rent? A) 0 B) 1 C) 2 D) It is impossible to determine how many DVDs Simon will rent without more information. Answer: A Topic: Consumption Possibilities Skill: Analytical Question history: Previous edition, Part Review 3 AACSB: Analytical Skills 2) Dudley plans to spend ￡210 on ice cream and chocolate bars. The price of ice cream is ￡3 per gallon and a chocolate bar ￡1.50. If Dudley buys 50 gallons of ice cream, how many chocolate bars is he able to buy? A) 50 B) 40 C) 70 D) 140 Answer: B Topic: Consumption Possibilities Skill: Analytical Question history: Previous edition, Part Review 3 AACSB: Analytical Skills 3) As Matts consumption of root beer increases, his A) marginal utility from root beer increases. B) marginal utility from root beer decreases. C) total utility from root beer decreases. D) both total and marginal utility from root beer increase. Answer: B Topic: Marginal Utility Skill: Conceptual Question history: Previous edition, Part Review 3 AACSB: Reflective Thinking  Quantity of chocolate frogs Rons total utility from chocolate frogs 1 40 2 75 3 105 4 125 5 130 4) In the table above, Rons marginal utility from the 4th chocolate frog is A) 20. B) 30. C) 115. D) 125. Answer: A Topic: Marginal Utility Skill: Analytical Question history: Previous edition, Part Review 3 AACSB: Analytical Skills 5) In the table above, Rons marginal utility is A) constant. B) diminishing. C) increasing. D) negative. Answer: B Topic: Marginal Utility Skill: Conceptual Question history: Previous edition, Part Review 3 AACSB: Analytical Skills 6) Basil spends all his income on apples and bananas. Apples cost $2.50 per pound and bananas cost $1.50 per pound. The marginal utility is 20 for the last pound of apples pur