MGEB06H3 Lecture 12: Lecture Note for ECMB06, Lecture 12

AI 16. If the price of X is set at $0.10 per unit, the quantity of the good purchased by this consumer each month will be: B) 2 C)3 D) 4 E) 6 F) 8 G) 10 H) 12 I) 16.5 J) 23.5 K) 63 L) 64 M) 128 N) 129 0) 150 P) 156 Q) 157.5 R) 159.5 S) 160 T) 255 U) 256 V) 256.5 W) 257.5 X) 260 Y)0 Z) none of the above

3. Suppose that those in charge of this economy want to maximize the utility of the residents of the country, where utility can be computed according to the equation U=XY' The point on the PPF that will maximize the value of the output involves the production of how many units of X (rounding to two decimal places)? A) 0.58 B) 0.71 C)1 D) 1.41 E) 1.73 F) 2 G) 2.83 H)3 1) 3.46 J) 3.5 K)4 L) 4.24 M) 4.33 N) 5 0) 5.77 P) 6 Q) 6.67 R) 7 S) 8 T) 8.14 U) 9 V) 10 W) 12 X) none of the above

13. If the price of X is set at $24.00 per unit, the number of units of X purchased by this consumer each month will be: A) 1 B) 2 C) 3 D) 4 E) 5 F) 6 G) 7 H)8 1) 9 J) 10 K) 12 L) 14 M) 16 N) 18 0) 20 P) 22 Q) 24 R) 26 S) 28 T) 30 U) 36 V) 40 W) 44 X) 52 Y) 56 Z) none of the above