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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does the budget set include?
💡 Hint: Think about the limits of what a consumer can buy.
Question 2
Easy
Why is the budget line downward sloping?
💡 Hint: Consider the trade-offs involved.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the budget set?
💡 Hint: Think about financial constraints and choices.
Question 2
True or False: The Marginal Rate of Substitution is always increasing.
💡 Hint: Consider consumer behavior with increasing amounts.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A consumer has a budget of $40 to spend on bananas ($2 each) and mangoes ($4 each). How many combinations of these two goods can the consumer buy, and how does the price change for each good affect the budget line?
💡 Hint: Focus on the equation representing the budget line.
Question 2
Analyze a situation in which a sudden increase in income allows a consumer to buy two more units of both goods (bananas and mangoes). How will the budget line and indifference curves adjust?
💡 Hint: Think about how income affects choices.
Challenge and get performance evaluation