Quiz 4 - test 4 PDF

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test 4...

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BROCK UNIVERSITY ECONOMICS 2P23 Test 4 2021 D03, S01 Prof. Kushner Name: __ ___ Tutorial No. (or date and time): _________ Student Number______ True/False and

Explain (otherwise zero) 1.If your MRSYX is 4/2 and mine is 2/1, I like Y more than you do. True or False ______ (2marks)

2. As one becomes older, tastes change such as comfortable clothes become more important to you then fashionable clothes. Consumer A is the older person. True or False ______(2 marks) Comfortable clothes

Consumer B Consumer A

Fashion clothing 3. Consumer B likes product Y more than does Consumer A.

True or False________ (2 marks)

Y

Consumer A Consumer B X 4. Indifference curves are convex to the origin because of the law of diminishing marginal utility.

Y

X True or False________ (4 marks)

2.

3....