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ECC1000 - Principles of microeconomics - S1 2025

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The total effect of the increase in price is a decline of __X__ units of food purchased. The number X is: (Enter a whole number, with no special characters like dollar signs, and no letters.)

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The substitution effect of the increase in price is a decline of __Y__ units of food purchased. The number Y is: (Enter a whole number, with no special characters like dollar signs, and no letters.)

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The income effect of the increase in food price is a decline of __Z__ units of food purchased. The number Z is: (Enter a whole number, with no special characters like dollar signs, and no letters.)

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The figure shows a student’s feasible frontier and her indifference curves for her final exam grade and the hours of free time per day. Based on this information, read the following statements and select the correct one.

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The figure shows the indifference curves of a student for the two ‘goods’, free time and final grade. Based on this information, read the following statements and select the correct one.

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The following diagram is the feasible set of a student, showing the combinations of her final grade and the hours of free time per day. Based on this information, read the following statements and select the correct one.

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Daenerys

Targaryen has 16 gold coins. If dragon firewood costs 2 coins and dragon feed

costs 3 coins, please write down her budget constraint, where x represents dragon firewood and y represents dragon feed.

Use only numbers, letters, and math operation symbols. Please do not add any space or period or comma or quotation marks.

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If

Daenerys Targaryen can buy 4 dragon saddles or 8 barrels of wine with her gold,

what represents her budget constraint?

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If

Arya Stark plots her consumption of faceless disguises and Valyrian steel, what

would be measured on the axes in the two-good model?

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In

the world of Westeros, how would Jon Snow apply consumer theory principles when

choosing between purchasing Night's Watch cloaks or dragon glass weapons?

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