Microeconomics > QUESTIONS & ANSWERS > Sophia Microeconomics Unit 2 Challenge 1 Questions with Complete Solutions (All)

Sophia Microeconomics Unit 2 Challenge 1 Questions with Complete Solutions

Document Content and Description Below

Tina must make a decision about the number of bottles of sports drink and how many cases of water she wants to purchase for her soccer practices. Tina decided to buy four cases of water and 16 bottle... s of sports drink. As she waited in line to check out, Tina noticed there was a special display offering five cases of water for the price of four. Tina opted to pick up an additional case of water, even though she might not use it until next week. Tina exhibited the economic principle of __________, because she decided that five cases of water and 16 bottles of sports drink was better than four cases of water and 16 bottles of sports drink. b.) non-satiation Juan is able to list out the pros and cons of each possible bundle based on his personal preferences to help him decide which is ultimately the best bundle. Which of the following economic principles is Juan exhibiting? a.) Completeness Which of the following is the best example of transitivity? c.) Ben preferred Uncle Moe's Family Feedbag and Catering over University Catering. He liked Hob Knob Fine Dining best of all. So he must prefer Hob Knob over University Catering. Which of the following is true using the graph above? c.) Point C is more desirable than points A or B. Paula liked to consume both water and sports drinks during her basketball games, but she always began with water. Knowing her own preferences helped in her decision of how much water versus how much sports drink to purchase. Which of the following choices would be characteristic of the law of diminishing returns for Paula? c.) This study source was downloaded by 100000831988016 from CourseHero.com on 06-22-2022 15:28:47 GMT -05:00 https://www.coursehero.com/file/66563705/Micro-Unit-2-Challange-1docx/ As Paula drinks more and more bottles of water, she would be more likely to want to trade off a bottle of water for a bottle of sports drink. Using the graph above, which of the following is true concerning Indifference Curves 1 and 2? c.) A consumer would prefer any point on Curve 2 to any points on Curve 1. This preference map shows the indifference curves and various points, based on the possible combinations of refillable water bottles and crackers. Which statement is true, based on the preference map above? b.) Option C is preferable to both options B and D. There are four combinations of key lime pie and raspberry cheesecake, each of which are denoted by a point on the graph below. Which of the following statements is true as it relates to the graph? a.) Point W would yield the least amount of utility. This graph shows the indifference curves for the different bundles of running socks and shoes that Ben can purchase. Ben's current budget constraint would allow him to purchase either the bundle represented by points 1, 2 or 3. Which option should Ben select, and why? c.) Option 3, because it is on a greater indifference curve. Consumers move from Curve 1 to Curve 2 as a result of __________. b.) an increase in the price of burgers This study source was downloaded by 100000831988016 from CourseHero.com on 06-22-2022 15:28:47 GMT -05:00 https://www.coursehero.com/file/66563705/Micro-Unit-2-Challange-1docx/ The store owner of Speedy Feet raised the price of running shorts. He was wondering how this would affect customer demand. Most customers buy a shirt of some sort to go along with the running shorts, so he is worried that the customers would buy fewer of both the shorts and shirts. Which graph below accurately shows what will happen to the budget constraint as a result of the store owner's prediction? b.) Megan has $50 to spend on refillable water bottles and crackers. This graph shows the budget constraint when the bottles are $7 each on Monday and the budget constraint when the bottles drop to $5 each on Thursday. Which of the following statements would be true if Megan were to wait and purchase the disposable water bottles on Thursday? a.) Megan's consumption of water bottles would increase. The college science fair recently received a $100 donation from the physics professor, who is a proud supporter of the organization. The graph below shows the original budget constraint, BEFORE the professor's generous donation: Which of the following describes the shift in the budget constraint AFTER the $100 donation? b.) It will shift to the right. Susan recently was told that the honor society just received additional funds from the university in order to showcase their academic programs. The chart below represents Susan's initial budget for the honor society, prior to the university's financial assistance: Which point may now be attainable, given the budget increase? c.) D Jackson is planning a banquet to honor the students who have made the Dean's List this semester. He receives a call from an assistant at the office of the Dean of Undergraduate Studies who tells him that the budget for the banquet has been reduced, due to a miscalculation. This study source was downloaded by 100000831988016 from CourseHero.com on 06-22-2022 15:28:47 GMT -05:00 https://www.coursehero.com/file/66563705/Micro-Unit-2-Challange-1docx/ This is the original budget constraint, before th [Show More]

Last updated: 1 year ago

Preview 1 out of 4 pages

Reviews( 0 )

Recommended For You

 Management> QUESTIONS & ANSWERS > WGU C483- PRINCIPLES OF MANAGEMENT – Prep Test with Complete Solutions 100% (All)

preview
WGU C483- PRINCIPLES OF MANAGEMENT – Prep Test with Complete Solutions 100%

A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Choose 1 answer Supply and demand Operations and logistics Outsourcing or inso...

By MollyBanks , Uploaded: Jul 25, 2023

$12

 Research Methods> QUESTIONS & ANSWERS > WGU-Research Foundations (C224): Pre- assmnt (58Qs) with Complete Solutions (All)

preview
WGU-Research Foundations (C224): Pre- assmnt (58Qs) with Complete Solutions

Q1. What is the purpose of evidence in research? ANS- Support theories Q2. A team of educational researchers plan to conduct a local study in the community in order to resolve a critical problem at...

By MollyBanks , Uploaded: Jul 25, 2023

$10.5

 NURSING.> QUESTIONS & ANSWERS > CRAT EXAM PRACTICE TEST 2 with Complete Solutions Graded A (All)

preview
CRAT EXAM PRACTICE TEST 2 with Complete Solutions Graded A

A nursing home calls a cardiology office requesting that a transtelephonic pacemaker check be conducted on a new admission to the facility. The technician finds no medical record indicating that the...

By MollyBanks , Uploaded: Jul 27, 2023

$10

 *NURSING> QUESTIONS & ANSWERS > ANCC _American Nurses Credentialing Center (ANCC). Practice Questions and Answers with Complete Solutions (All)

preview
ANCC _American Nurses Credentialing Center (ANCC). Practice Questions and Answers with Complete Solutions

ANCC Practice Questions and Answers with Complete Solutions In the early stages of iron deficient anemias, blood studies show: (a) macrocytic normochromic (b) microcytic hypochromic (c) normochro...

By Alphascore , Uploaded: Nov 14, 2022

$9.5

 Health Care> QUESTIONS & ANSWERS > CPR Test (25 questions and answers with complete solutions) Latest Updated 2022 Already Graded A+ (All)

preview
CPR Test (25 questions and answers with complete solutions) Latest Updated 2022 Already Graded A+

CPR Test (25 questions and answers with complete solutions) Latest Updated 2022 Already Graded A+ What is the rate for chest compressions per minute for any age? Correct Answer-100 compressions per...

By Nutmegs , Uploaded: Jul 07, 2022

$7.5

 Language Development> QUESTIONS & ANSWERS > Unit 2 Session 1-8 & LETRS Unit 2 FInal Assessment, Question with answers. 100% verified. 2022/2023 latest update. (All)

preview
Unit 2 Session 1-8 & LETRS Unit 2 FInal Assessment, Question with answers. 100% verified. 2022/2023 latest update.

Unit 2 Session 1-8 & LETRS Unit 2 FInal Assessment, Question with answers. 100% verified. 2022/2023 latest update. Unit 2 Session 1 T/F A student with general phonological awareness can learn to...

By Topmark , Uploaded: Oct 09, 2022

$10.5

 *NURSING> QUESTIONS & ANSWERS > PMHNP Exam Reported Questions and Answers Latest 2022 Test with complete solutions (All)

preview
PMHNP Exam Reported Questions and Answers Latest 2022 Test with complete solutions

PMHNP Exam Reported Questions and Answers Latest 2022 Test with complete solutions What is dissemination? Correct Answer- Getting the research information out to those who need to know it! Publica...

By bundleHub Solution guider , Uploaded: Sep 03, 2022

$11.5

 Micro Biology> QUESTIONS & ANSWERS > ASCP Molecular Biology Certification Exam Questions and Answers with Complete Solutions (All)

preview
ASCP Molecular Biology Certification Exam Questions and Answers with Complete Solutions

ASCP Molecular Biology Certification Exam Questions and Answers with Complete Solutions Pyrimidine ✔✔ One carbon ring Cytosine, Thymine, Uracil What is the function of mRNA? ✔✔ Carries genetic...

By Crescent , Uploaded: Dec 21, 2022

$8

 Computer Science> QUESTIONS & ANSWERS > WGU C724 Information Systems Management Unit 2 Test Questions and Answers 100% Pass (All)

preview
WGU C724 Information Systems Management Unit 2 Test Questions and Answers 100% Pass

WGU C724 Information Systems Management Unit 2 Test Questions and Answers 100% Pass Information Systems ✔✔WHAT accepts data as input? a.) Information b.) People c.) Information Systems EIS ✔✔Th...

By Alphascore , Uploaded: Nov 26, 2022

$8

 *NURSING> QUESTIONS & ANSWERS > DSE Questions and Answers with Complete Solutions (All)

preview
DSE Questions and Answers with Complete Solutions

DSE Questions and Answers with Complete Solutions True ✔✔T/F: Nifedipine causes gingival hyperplasia. Leave it alone ✔✔Large space between 11 and 12. What do you do? a. Mini implant b. Do a bridg...

By Nutmegs , Uploaded: Aug 11, 2022

$10

$10.00

Add to cart

Instant download

Can't find what you want? Try our AI powered Search

OR

GET ASSIGNMENT HELP
140
0

Document information


Connected school, study & course



About the document


Uploaded On

Jun 23, 2022

Number of pages

4

Written in

Seller


seller-icon
Nutmegs

Member since 2 years

570 Documents Sold


Additional information

This document has been written for:

Uploaded

Jun 23, 2022

Downloads

 0

Views

 140

Document Keyword Tags

THE BEST STUDY GUIDES

Avoid resits and achieve higher grades with the best study guides, textbook notes, and class notes written by your fellow students

custom preview

Avoid examination resits

Your fellow students know the appropriate material to use to deliver high quality content. With this great service and assistance from fellow students, you can become well prepared and avoid having to resits exams.

custom preview

Get the best grades

Your fellow student knows the best materials to research on and use. This guarantee you the best grades in your examination. Your fellow students use high quality materials, textbooks and notes to ensure high quality

custom preview

Earn from your notes

Get paid by selling your notes and study materials to other students. Earn alot of cash and help other students in study by providing them with appropriate and high quality study materials.


$10.00

WHAT STUDENTS SAY ABOUT US


What is Browsegrades

In Browsegrades, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.

We are here to help

We're available through e-mail, Twitter, Facebook, and live chat.
 FAQ
 Questions? Leave a message!

Follow us on
 Twitter

Copyright © Browsegrades · High quality services·