Randy likes baseball more than football, football more than basketball, and basketball more than baseball. Which assumption about consumer preferences does this violate?

Sarinda consumes crab cakes and tuna. Sarinda’s utility increases with the consumption of crab cakes, but her utility neither increases nor decreases with the consumption of tuna. Assuming tuna is on the x-axis and crab cake is on the y-axis, what do Sarinda’s indifference curves look like?

Suppose that the wage rate is $25 per hour and that the rental rate of capital is $50 per hour. The equation for the isocost line is given by:

Suppose that good X and good Y are substitutes and that good X and good Z are complements. When the price of a good Y _____ or the price of good Z _____, the demand curve for good X shifts outward.

Which of the following statements regarding bed mobility activities is true?

The curve that goes through the points A, B, C, and D is called the:    

(Figure: Market for Grapefruits I) At a market price of $6, what is total consumer surplus?    

Helena purchased a tennis racket from a sporting goods website. She paid $110 for it and received consumer surplus of $55. What was Wilson’s willingness to pay for the scooter?

(Figure: Market for Good X I) Which of these statements is (are) TRUE?       I. A tax on buyers of $3 per unit raises the price buyers pay to $6. II. A tax on sellers of $3 per unit raises the price buyers pay to $6. III. With a tax on sellers of $3 per unit, the share of the tax paid by buyers is 67%.

To assess how responsive quantity demanded is to changes in the price of your product, you should examine the ratio of the percentage change in _____ to the percentage change in _____ that brings about the change in _____.