Microeconomics Module 10 Final Exam
Questions and Already Passed Answers
(2025-2026) Edition.
Hector would like to buy a new pair of soccer cleats. Hector prefers Adidas to Puma brand
soccer cleats. But Hector chooses to buy the Puma brand cleats instead. Which of the following
reasons for Hector's choice is consistent with rational consumer choice? - Answer The price of
Puma brand soccer cleats was less than the price of Adidas brand soccer cleats
Oscar makes purchases of an existing product (X) such that the marginal utility of the last unit
he consumes is 10 utils and the price is $5. He also tries a new product (Y) and the marginal
utility of the last unit he consumes is 8 utils and the price is $1. The equal marginal principle
suggests that Oscar should - Answer increase his consumption of product Y and decrease his
consumption of product X.
Which of the following is an assumption of the decision-making process followed by consumers
to maximize utility? - Answer The consumer considers the prices of the products.
The utility from a specific product is - Answer a measure of one's preference or taste for it.
Which of the following statements is correct? - Answer Total utility is the sum of marginal
utilities.
Which of the following defines marginal utility? - Answer the additional satisfaction or
happiness received from the consumption of an additional unit of a good or service
Which of the following statements is correct? - Answer When marginal utility is positive, an
increase in the quantity consumed will increase total utility.
The utility of a good or service - Answer is the satisfaction or happiness one receives from
consuming it.
Marginal utility is equal to - Answer change in total utility divided by change in quantity
consumed.
Questions and Already Passed Answers
(2025-2026) Edition.
Hector would like to buy a new pair of soccer cleats. Hector prefers Adidas to Puma brand
soccer cleats. But Hector chooses to buy the Puma brand cleats instead. Which of the following
reasons for Hector's choice is consistent with rational consumer choice? - Answer The price of
Puma brand soccer cleats was less than the price of Adidas brand soccer cleats
Oscar makes purchases of an existing product (X) such that the marginal utility of the last unit
he consumes is 10 utils and the price is $5. He also tries a new product (Y) and the marginal
utility of the last unit he consumes is 8 utils and the price is $1. The equal marginal principle
suggests that Oscar should - Answer increase his consumption of product Y and decrease his
consumption of product X.
Which of the following is an assumption of the decision-making process followed by consumers
to maximize utility? - Answer The consumer considers the prices of the products.
The utility from a specific product is - Answer a measure of one's preference or taste for it.
Which of the following statements is correct? - Answer Total utility is the sum of marginal
utilities.
Which of the following defines marginal utility? - Answer the additional satisfaction or
happiness received from the consumption of an additional unit of a good or service
Which of the following statements is correct? - Answer When marginal utility is positive, an
increase in the quantity consumed will increase total utility.
The utility of a good or service - Answer is the satisfaction or happiness one receives from
consuming it.
Marginal utility is equal to - Answer change in total utility divided by change in quantity
consumed.
