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Author Question: Oscar consumes only two goods, X and Y. Assume that Oscar is not at a corner solution, but he is ... (Read 119 times)

Jkov05

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on: Jul 1, 2018
Oscar consumes only two goods, X and Y. Assume that Oscar is not at a corner solution, but he is maximizing utility. Which of the following is NOT necessarily true?
 
  A) MRSxy = Px/Py.
  B) MUx/MUy = Px/Py.
  C) Px/Py = money income.
  D) Px/Py = slope of the indifference curve at the optimal choice.
  E) MUx/Px = MUy/Py.

Question 2

Which of the following will NOT cause a rightward shift in the demand curve for beer?
 
  A) A change in the price of beer
  B) A health study indicating positive health benefits of moderate beer consumption
  C) An increase in the price of French wine (a substitute)
  D) A decrease in the price of potato chips (a complement)
  E) none of the above


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tsternbergh47

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


Jkov05

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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