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Author Question: As a consumer moves along an indifference curve and decreases consumption of the good on the x-axis, ... (Read 94 times)

burton19126

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on: Jun 29, 2018
As a consumer moves along an indifference curve and decreases consumption of the good on the x-axis, the consumer needs ________ of the good on the y-axis to give up an additional unit of the good on the x-axis.
 
  A) less and less
  B) more and more
  C) none
  D) a constant amount

Question 2

Jeremiah spends all of his income on oranges and cookies, which are normal goods. If Jeremiah's income decreases, he will buy ________ oranges and ________ cookies.
 
  His marginal utility from oranges will ________ and his marginal utility from cookies will ________. A) fewer; fewer; decrease; increase
  B) more; more; decrease; decrease
  C) the same quantity of; fewer; remain constant; decrease
  D) fewer; fewer; increase; increase


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matt95

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


burton19126

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Reply 2 on: Jun 29, 2018
Gracias!

billybob123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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