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Product Code:- Economics-Quiz334

1Q-Normal and Inferior Good with purchasing power____________.

2Q-Cross Price elasticity is____________

3Q-Tax incidence

4Q-If the legal burden of a tax is passed from sellers to buyers____________

5Q-DWL tax

6Q-Monroe consumes crab cakes and tuna. Monroe's utility increases with the consumption of tuna, but his utility neither increases nor decreases with the consumption of crab cakes. Assuming tuna is on the x-axis and crab cake is on the y-axis, what do Monroe's indifference curves look like?

7Q-Jewel's utility is a function of golf (G) and music lessons (M), where MUS = 1/S and MUM = 1/M. What is MRSSM when S = 8 and M = 5?

8Q-Substitution effect

9Q-Income Effect___________

10Q-DWL subsidy

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1Q-Normal and Inferior Good with purchasing power____________. 1A-Purchases More when Purchasing Power increases Normal Good Purchases less when Purchasing Power increases Inferior Good

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