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ECC1000 - Principles of microeconomics - S2 2025
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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(s).
Suppose the wage decreased to the point that this indifference curve was optimal. Would this lead to more or less time spent on leisure than was previously optimal (~16.5 hours)?
Match the following effects of a price change with their description.
Consider the indifference curve below:
Which property/properties of consumer preference is/are violated?
Consider this set of indifference curves:
Which property/properties of consumer preference is/are violated?
Consider the following indifference curve:
Which property/properties of consumer preference is/are violated?
Consider this set of indifference curves:
Which property/properties of consumer preference is/are violated?
Consider IC1 on the last slide of the video. The MRS for fish is _____ at low amounts of fish compared to higher amounts of fish.
In the SmartCard example, what is the MRT of the first $200 worth of food after the SmartCard is added?
In the SmartCard example, what is the MRT of the first $200 worth of food before the SmartCard is added?