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ECON-1010-A-Introduction to Microeconomics

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Which of the following conditions are met when Charles is maximizing utility?
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Jenn spends her income buying salmon and water and is maximizing total utility. If the price of salmon falls, other things remaining the same, which of the following events does the marginal utility theory predict will occur?
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If Kate purchases two slices of pizza and six breadsticks to maximize her total utility, which of the following situations occurs?
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Billy likes chocolate bars and popcorn. Chocolate bars sell for $1.50 each and popcorn sells for $3 a bag. Currently Billy is in consumer equilibrium and the marginal utility per dollar from popcorn is 100. What is the marginal utility per dollar from chocolate bars? 
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Table 8.2.5

The three columns of the table are titled Hours per month, Marginal utility from golf, and Marginal utility from tennis. The rows display the data as follows:1; 80; 402; 60; 363; 40; 304; 30; 105; 20; 56; 10; 27; 6; 1

Refer to Table 8.2.5, which shows the marginal utility Cindy gets from each activity. Cindy has $70 a month to spend, the price of an hour of golf is $10, and the price of an hour of tennis is $5. Cindy decides to golf for 5 hours a month and play tennis for 4 hours a month. If Cindy spends a dollar more (or less) on golf and a dollar less (or more) on tennis, how does her total utility change?

If Cindy spends more on golf and less on tennis, her total utility ________.

If Cindy spends less on golf and more on tennis, her total utility ________.
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Table 8.2.3

The four columns of the table are titled X in units, Total utility from X, Y in units, and Total utility from Y. The rows display the data as follows:0; 0; 0; 01; 9; 1; 492; 17; 2; 903; 24; 3; 1104; 30; 4; 1185; 35; 5; 1246; 39; 6; 1297; 42; 7; 1328; 44; 8; 133

Refer to Table 8.2.3. If the price of X is $1, the price of Y is $1, and the consumer has $11 of income, which of the following choices maximizes utility?
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Let MUA and MUB stand for the marginal utility of goods A and B, respectively. Let PA and PB stand for the price of goods A and B, respectively. Which statement must hold for consumer equilibrium? 
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Which of the following statements about the paradox of value between expensive diamonds and inexpensive water is correct?
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Ron buys two goods, X and Y, and is at his consumer equilibrium. If the price of X rises, which of the following situations immediately arises and how does Ron respond?

Immediately after the rise in price
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How do you calculate total utility?

Total utility equals
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