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ECON-1010-D1/D2-Introduction to Microeconomics

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Use the figure below to answer the following question.

Figure 9.2.5

Refer to Figure 9.2.5. The graphs show indifference curves for various goods. Graph ________ best describes the pair of goods baseballs and baseball bats. Graph ________ best describes the pair of goods desktop computers and laptop computers.
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Use the information below to answer the following questions.

Fact 9.3.3

Jim has made his best affordable choice of muffins and coffee. He spends all of his income on 10 muffins at $1 each and 20 cups of coffee at $2 each. Muffins and coffee are ordinary goods. Now the price of a muffin rises to $1.50 and the price of coffee falls to $1.75 a cup.

Refer to Fact 9.3.3. When the price of a muffin rises to $1.50 and the price of coffee falls to $1.75 a cup, Jim
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Use the figure below to answer the following questions.

Figure 9.2.1

Which of the indifference curves in Figure 9.2.1 illustrates perfect complements?
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Use the figure below to answer the following questions.

Figure 9.3.3

Consider an initial budget line labelled RS in Figure 9.3.3. The budget line becomes RT with
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Use the table below to answer the following question.

Table 8.1.2

Table 8.1.2 gives total utilities for Jim and Sally. Which one of the following statements is true?
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The total effect is the movement from

a.         X3 to X2.

b.         X4 to X1.

c.         X3 to X1.

d.         X4 to X2.

e.         X2 to X4.

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At point A,

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Use the figure below to answer the following questions.

Figure 9.3.4

Original equilibrium at A, new equilibrium at B

Refer to Figure 9.3.4. Which graphs show the case where good Y is an inferior good?
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The income effect is the movement from

a.         X3 to X2.

b.         X2 to X1.

c.         X1 to X2.

d.         X3 to X1.

e.         X4 to X3.

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Use the figure below to answer the following questions.

Figure 9.3.3

Consider an initial budget line labelled RT in Figure 9.3.3. If the budget line becomes RS, the income effect is illustrated by the move from point
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