18. Consumer Choice and Behavioral Economics

Budget Constraint

객관식
The slope of a budget constraint line is influenced by which of the following?
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객관식
A consumption bundle inside the budget line
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객관식
The shift of the budget line from cd to ab in the figure is consistent with which of the following?
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객관식
Suppose a consumer has a budget of \$20 to spend on apples and oranges. Apples cost \$2 each and oranges cost \$4 each. Which of the following combinations of apples and oranges is attainable given the consumer's budget constraint?
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객관식
Which of the following best describes a budget line in microeconomics?
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객관식
When Marietta chooses to only purchase a combination of goods that lie within her budget line, she:
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객관식
What does every point on a budget line represent?
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객관식
Campin' Sam buys firewood and ice. When the price of firewood decreases, the maximum number of firewood she can purchase _____________ and the maximum number of ice she can purchase _______________
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객관식
An increase in income will:
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객관식
Which of the following does an individual's budget line not reveal?
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객관식
In the budget constraint model, as the quantity of one good consumed increases, what typically happens to the quantity of the other good that can be consumed?
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객관식
Lil Kiddo just got \$10 for his allowance. He has big dreams for that money and plans to buy out the toy store, slapping down the tenner at the cash register. Disillusioned, he decides to buy pogs for \$0.50 each and action figures for \$2 each. Which consumption bundle is unaffordable to Lil Kiddo?
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객관식
A change in the price of one good will:
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객관식
The Amazing Andy spends all of his \$1,200 income on magic tricks. If card tricks cost \$50 and wand tricks cost \$300, which of the following consumption bundles lies upon Amazing Andy's budget constraint?
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