Site MapHelpFeedbackMatching Post Quiz
Matching Post Quiz
(See related pages)




Match the correct answers below.
1


Additional utility that a consumer derives from consuming one additional unit of a good.

2


Results from summing the marginal utilities to the third unit.

3


Stems from the fact that higher prices decrease the consumer's desired level of consumption.

4


Explains that when the price of a good increases, consumers will consume less of the good because their real incomes are lower after the price increase.

5


The extra value that consumers receive above what they pay for that good.

6


Hot dogs and hot dog rolls.

7


Consumers' ranking of different goods and services.

8


Occurs where marginal utility of the last dollar spent on each good is exactly equal to the marginal utility of the last dollar spent on any other good.

9


Derived by summing the demands of the individual consumers.

10


Explains that when the price of a good increases, consumers will consume less of the more expensive good and more of some other good.

11


Beef and chicken.

12


One's utility grows at a slower and slower rate as you consume more and more units of a good.

13


An example of a free good.

14


The demand for illegal drugs on the part of hard-core drug users.

Answer choices for questions 1 through 14
A)Utility
B)Total utility for the consumption of the third unit
C)Income effect
D)Law of diminishing marginal utility
E)Marginal utility
F)Substitution effect
G)Upward sloping demand curve
H)Substitutes
I)Maximum satisfaction
J)Air
K)Consumer surplus
L)Market demand curve
M)Complements
N)Relatively inelastic





To learn more about the book this website supports, please visit its Information Center.
(c)2005 McGraw-Hill Higher Education
Any use is subject to the Terms of Use and Privacy Policy.
McGraw-Hill Higher Education is one of the many fine businesses of The McGraw-Hill Companies.


sameulsonecon18Online Learning Center

Home > Chapter 5 > Matching Post Quiz