01:220:102 Study Guide - Midterm Guide: Demand Curve, Household Income, Inferior Good

• School: Rutgers University
• Department: Economic
• Course: 01:220:102
• Professor: All

Document Summary

Name: ___________________________________ date: _____________: sarah"s autoshop reports that their marginal cost, no matter their level of production, is always equal to . Sarah"s husband, an economist, claims sarah lost ,002 running her pottery studio. 1: (figure: income tax payments)look at the figure income tax payments. 2: (figure: the indifference curve map ii) look at the figure the indifference curve map. Sara enjoys attending chicago cubs" baseball games and eating babyback rib dinners. The figure shows two of her indifference curves for cubs" tickets and babyback rib dinners. If she consumes 20 baby back rib dinners and 4 tickets to cubs" games, she would be equally happy to give up 8 dinners for ________ more ticket(s) to cubs" games: 0. 5, 2, 4, 1. The figure shows three of harold"s indifference curves for bread and cheese: (figure: harold"s indifference curves) look at the figure harold"s indifference curves. Figure: short-run costs ii: (figure: short-run costs ii) look at the figure short-run costs ii.