The Rational Rule for Sellers involves applying only the marginal principle. O only the opportunity cost principle. O only the cost-benefit principle. the marginal principle, the cost-benefit principle, and the opportunity cost principle.

If the price of a good increases, then Select one: O A. the demand for complementary goods will increase. O B. the demand for the good will increase O c. the demand for the good will decrease O D. None of the above

The opportunity cost of a hotdog in terms of hamburgers is O the ratio of the price of a hotdog to the price of a hamburger. O the price of a hot dog minus the price of a hamburger. O the ratio of the slope of the demand curve for hot dogs to the slope of the demand curve for hamburgers. the ratio of the slope of the supply curve for hot dogs to the slope of the supply curve for hamburgers.

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Which of the following statements is correct? Select one: O a. TU is the rate of change of MU. O b. Economists use "utility" to only talk about how practically useful an item is to a person. O c. MU can never have a value of zero. O d. MU is a producer concept. O e. MU is the slope of the TU curve.

It shows the different combinations that the consumers can purchase from good [X] and [Y), given the income and the prices of the two goods. O a. Demand Curve O b. Budget line O c. Indifference curve O d. Supply Curve e. No correct answer

Suppose cauliflower and broccoli are substitutes in consumption. Suppose further that the price of cauliflower is increasing. Everything else held constant, consumer surplus in the broccoli market will and economic surplus in the broccoli market will, Select one: O A. increase; increase O B. increase; decrease Oc. decrease; decrease O D. be ambiguous; increase OE. decrease; increase OF. increase; be ambiguous O G. be ambiguous; decrease O H. be ambiguous; be ambiguous OL. decrease; be ambiguous

While producing on the production possibilities frontier. if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be Select one: O a. boswed outward. O b.a straight line. O c bowed inward. O d. positively sloped.

The term that refers to the situation where we dont have all of our needs and wants because resources are limited is refered to as O A. Decisions O B. None of the above O C. Choice O D. Scarcity

Price Keram H 1 1 4 Becky's D for Blueberries Demand Refer to the graph above to answer this question. The graph shows Becky's demand for blueberries which can be purchased in any quantities and sold at any price What is Becky's total willingness to pay for 6 kilograms of blueberries if the price of each kilogram of blueberries is $27 Multiple Choice O O O O O $12. Cannot be determined. $18. $6. $2