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Marginal utility theory predicts that when a consumer's income decreases, the consumer

buys more normal goods.

buys less of all goods.

buys fewer normal goods.

buys more of all goods.

buys fewer inferior goods.

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Shelley is maximizing utility in her consumption of mansions and Porsches. If the marginal utility from her last purchased mansion is twice the marginal utility from her last purchased Porsche, then we know

the price of a mansion is twice the price of a Porsche.

✅

the price of a Porsche is twice the price of a mansion.

❌

Shelley buys twice as many Porsches as mansions.

❌

Shelley buys more Porsches than mansions, but we do not know how many more.

❌

Shelley buys twice as many mansions as Porsches.

❌

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Ms. Birnbaum is buying bottles of beer and bags of pretzels. The marginal utility of the last bottle of beer is 60 and the marginal utility of the last bag of pretzels is 30. The price of beer is $0.30 per bottle and the price of pretzels is $0.20 per bag. Ms. Birnbaum

should buy more pretzels and less beer.

❌

should buy more beer and fewer pretzels.

✅

is buying beer and pretzels in the utility-maximizing amounts.

❌

none of the above

❌

is NOT spending all her income.

❌

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What can we say about a consumption bundle selected by an optimizing consumer?

None of the above.

❌

Utility is maximized, and prices are minimized.

❌

Utility is maximized, and income is minimized.

❌

Utility is maximized subject to budget constraints.

✅

Utility is maximized, and indifference curves are linear.

❌

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If the price of the good measured on the vertical axis decreases, the budget line

shifts leftward and parallel to the original budget line.

shifts rightward and parallel to the original budget line.

❌

shifts leftward and becomes steeper.

becomes steeper.

becomes flatter.

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Identify all correct implementations of code where it will print the statement "Correct!" when the value provided is between 0 and 100 (exclusive).

if not 0 < value < 100:
    print("Correct!")

if 0 < value < 100:
    print("Correct!")

if value > 0 and value < 100:
    print("Correct!")

if value > 0 and 100:
    print("Correct!")

if value > 0 or value < 100:
    print("Correct!")

if 0 <= value <= 100:
    print("Correct!")

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Given

x = 9.9

y = 1.8

What is the result printed for the following code?

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David has an income of $60 to buy movie tickets and bus tickets. The price of a movie ticket is $12 and the price of a bus ticket is $4. What is the relative price of a bus ticket in terms of movie tickets?

The price of one good divided by the price of another good is

Match the following syntax to the function description

x%y

x*y

x**y

x/y

x+y

x-y

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