Ecs1501 Assignment 11 Semester 2 2023

11/10/23, 12:15 PM Assessment 11 (page 2 of 13)




 ECS1501-23-S2  Assessments  Assessment 11

QUIZ




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Question 2
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Zurika knows she has maximised her
utility because she spent her whole
income and


her consumption of hiking shoes
equals her consumption of energy
drinks.
what she spends on hiking shoes
equals what she spends on energy
drinks.
MU hiking shoes = MU energy
drinks.
MU hiking shoes / P hiking shoes =
MU energy drinks / P energy drinks.
Clear my choice




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, 11/10/23, 12:14 PM Assessment 11 (page 3 of 13)




 ECS1501-23-S2  Assessments  Assessment 11

QUIZ




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Question 3
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This question is based on the following
table showing Cobus’ consumption of
biltong sticks.

Number 0 1 2 3 4 5 6 7
of
biltong
sticks

Total 0 20 35 45 50 50 45 35
utility



Cobus’ marginal utility is zero when he

eats 5 biltong sticks.




Question 4
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Celia purchases a combination of shoes
and handbags such that MUshoes/Pshoes =
20 and MUhandbags/Phandbags = 5. To
maximise utility, Celia should buy _____
shoes and _____ handbags.


fewer; more
more; more
more; fewer
fewer; fewer

Clear my choice




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