97. Tina\'s marginal utility of her first piece of cake is 15,while Jerry\'s mar

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97. Tina's marginal utility of her first piece of cake is 15,while Jerry's marginal utility of his first piece of cake is 24. Aneconomist would conclude that: A)Tina likes cake less than Jerry likes cake.
B)Jerry likes cake more than Tina likes cake.
C)we can't make a comparison to see who values cake more.
D)Jerry likes cake less than Tina likes cake.
E)Tina likes cake more than Jerry likes cake.
98. Suppose a consumer is spending all of his/her income on twogoods, A and B, in a manner where MUa = 15 andMUb = 75, and the Pa = $3 and thePb = $15, then the consumer: A)is maximizing his/her utility.
B)should increase his/her purchases of B and decrease the purchasesof A.
C)should spend more money on both goods.
D)should increase the purchases of A and decrease the purchases ofB.
E)should spend less money on both goods.
99. If automobiles and gasoline are complements, then theircross-elasticity coefficient will be: A)equal to zero.
B)positive.
C)negative.
D)strictly greater than one.
100. JoAnn considers cola and plain sparkling water to be goodsubstitutes. Suppose the price of sugar, a key ingredient used toproduce cola, falls. According to the substitution effect, which ofthe following is most likely to occur? A)JoAnn will purchase more cola and less sparkling water.
B)JoAnn will purchase more of all goods due to her higher realincome.
C)JoAnn's demand curve will decrease (shift in), causing her topurchase less cola.
D)JoAnn will purchase less cola and more sparklingwater. 97. Tina's marginal utility of her first piece of cake is 15,while Jerry's marginal utility of his first piece of cake is 24. Aneconomist would conclude that: A)Tina likes cake less than Jerry likes cake.
B)Jerry likes cake more than Tina likes cake.
C)we can't make a comparison to see who values cake more.
D)Jerry likes cake less than Tina likes cake.
E)Tina likes cake more than Jerry likes cake.
Tina's marginal utility of her first piece of cake is 15,while Jerry's marginal utility of his first piece of cake is 24. Aneconomist would conclude that: 98. Suppose a consumer is spending all of his/her income on twogoods, A and B, in a manner where MUa = 15 andMUb = 75, and the Pa = $3 and thePb = $15, then the consumer: A)is maximizing his/her utility.
B)should increase his/her purchases of B and decrease the purchasesof A.
C)should spend more money on both goods.
D)should increase the purchases of A and decrease the purchases ofB.
E)should spend less money on both goods.
98. Suppose a consumer is spending all of his/her income on twogoods, A and B, in a manner where MUa = 15 andMUb = 75, and the Pa = $3 and thePb = $15, then the consumer: A)is maximizing his/her utility.
B)should increase his/her purchases of B and decrease the purchasesof A.
C)should spend more money on both goods.
D)should increase the purchases of A and decrease the purchases ofB.
E)should spend less money on both goods.
Suppose a consumer is spending all of his/her income on twogoods, A and B, in a manner where MUa = 15 andMUb = 75, and the Pa = $3 and thePb = $15, then the consumer: 99. If automobiles and gasoline are complements, then theircross-elasticity coefficient will be: A)equal to zero.
B)positive.
C)negative.
D)strictly greater than one.
99. If automobiles and gasoline are complements, then theircross-elasticity coefficient will be: A)equal to zero.
B)positive.
C)negative.
D)strictly greater than one.
If automobiles and gasoline are complements, then theircross-elasticity coefficient will be: 100. JoAnn considers cola and plain sparkling water to be goodsubstitutes. Suppose the price of sugar, a key ingredient used toproduce cola, falls. According to the substitution effect, which ofthe following is most likely to occur? A)JoAnn will purchase more cola and less sparkling water.
B)JoAnn will purchase more of all goods due to her higher realincome.
C)JoAnn's demand curve will decrease (shift in), causing her topurchase less cola.
D)JoAnn will purchase less cola and more sparklingwater. 100. JoAnn considers cola and plain sparkling water to be goodsubstitutes. Suppose the price of sugar, a key ingredient used toproduce cola, falls. According to the substitution effect, which ofthe following is most likely to occur? A)JoAnn will purchase more cola and less sparkling water.
B)JoAnn will purchase more of all goods due to her higher realincome.
C)JoAnn's demand curve will decrease (shift in), causing her topurchase less cola.
D)JoAnn will purchase less cola and more sparklingwater. JoAnn considers cola and plain sparkling water to be goodsubstitutes. Suppose the price of sugar, a key ingredient used toproduce cola, falls. According to the substitution effect, which ofthe following is most likely to occur?

Explanation / Answer

Here are the answers: 97. C 98. A 99. C 100. B I have tried my best. Thanks

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