Economics(102(
Exam(IV(Review(
(
Matching:(
1. ########Indifference#Curve###
2. ########Total#Utility#####
3. ########Derived#Demand#
4. ########Budget#Line#
5. ########Diminishing#Marginal#Utility#
6. ########Marginal#Utility#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
1. ########Slope#of#Budget#Line#
2. ########Point#of#Tangency#
3. ########Income#Effect#(x=normal#good)#
4. ########Substitution#Effect#
5. ########Income#Effect#(x=inferior#good)#
6. ########Slope#of#Indifference#Curve#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
#
A. All#combinations#of#two#products#that#
consumers#can#afford#to#purchase#
given#their#income#and#the#price#of#
the#products#
B. The#combination#of#utility#derived#
from#each#product;#must#remain#
constant#
C. The#change#in##total#utility#consumers#
experiences#as#they#consume#one#
additional#unit#of#a#product#
D. The#result#of#a#consumerโs#demand#
for#a#firmโs#resources#
E. For#each#additional#unit#of#product#
you#consume,#your#marginal#utility#
decreases#
F. All#combination#of#two#products#that#
provide#consumers#with#exactly#the#
same#amount#of#utility##
#
#
#
A.
๐๐๐ฅ ๐๐๐ฆ
%#
B.
๐๐๐ฅ ๐๐ฅ'
%#=#
๐๐๐ฆ ๐๐ฆ
%#
C. Px##increase,#then#QDx#decreases#and#
QDy#increases#
D.
๐๐ฅ ๐๐ฆ
%#
E. Px#increases,#Income#decreases,#QDx#
decreases#(QDy#depends#on#whether#
it#is#a#normal#or#inferior#good)#
F. Px#increases,#Income#decreases,#QDx#
increases#(QDy#depends#on#whether#it#
is#a#normal#or#inferior#good)#
#
#
#
