ECON 2210 Chapter Notes - Chapter 3: Economic Surplus, Average Variable Cost, Marginal Product
Business Economics: Coursework Quiz 2 (Lecture Sessions 3 & 4)
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Quiz Instructions
Choose what you think is the best answer from the alternatives provided
You score 2 points for each correct answer
You score zero for each blank answer
Only record one answer per question
The slope of an indifference curve shows:
a) the transitivity of consumer preferences
b) the marginal rate of substitution between one good and another
c) the ratio of market prices
d) all of the above
e) none of the above
If a consumer prefers bundle A to bundle B, and bundle B to bundle C, then we can
conclude that bundle A is preferred to bundle C. This conclusion relies on the
assumption that:
a) consumer preferences are transitive
b) the osue’s idiffeee ue is oex to the oigi
c) consumers prefer more goods to fewer goods
d) consumer equilibrium is reached at the point where utility is maximised
e) all of the above
The osue’s udget lie shos :
a) the marginal benefit derived from the consumption of an additional unit of
output when household incomes and prices are given
b) the structure of consumer preferences when budgets are constrained
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