ECON 2000 Lecture : Notes
Document Summary
Econ 2000 exam 2 review: 20; 50, 8; 30, jane has a week to spend on clothing and food. The price of clothing is and the price of food is . The clothing and food pairs in jane"s choice set include: kathy eats five slices of pizza on a saturday night but admits each slice of pizza doesn"t. _____________ units of clothing and _____________ units of food: 50; 50 taste as good as the previous one. The marginal utility of the first movie rental is: 0, 15, 25, 40, refer to figure 6. 8. The marginal utility of the second hamburger per day is: 10, 12, 22, 52, refer to table 6. 1. Diminishing marginal utility sets in after ________ hamburger per day: first, second, third, fourth, richard is consuming x and y so that he is spending his entire income and mux/px = 6 and muy/py = 10.
