ECON 1000 Midterm: ECON 1000 Term Test 2 2015 Summer

• School: York University
• Department: Economics
• Course: ECON 1000
• Professor: All

Document Summary

Faculty of liberal arts and professional studies department of economics. ______________________________________: make sure to print your name, student number and sign the sheet above. All questions are multiple choice format: for multiple choice answers, no work needs to be shown. The full marks will be granted if the best answer is circled and zero otherwise: good luck! Econ 1000a - s1 2015 - test 2. Choose the one alternative that best completes the statement or answers the question. Use the table below to answer the following questions. Total utility from sailing total utility from skiing. The price of sailing is per hour and the price of skiing is per hour; sam"s income to spend on these activities is . Let pa and pb stand for the price of goods a and b, respectively. Assume that for a given consumer mua and mub are equal each other, and pa is greater than pb.