What is the main problem discussed in the video tutorial?

Consumer Choice and Utility Concepts

Interactive Video
•

Emma Peterson
•
Business, Economics, Social Studies
•
10th - 12th Grade
•
Hard
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10 questions
Show all answers
1.
MULTIPLE CHOICE
30 sec • 1 pt
2.
MULTIPLE CHOICE
30 sec • 1 pt
What does the budget line represent?
3.
MULTIPLE CHOICE
30 sec • 1 pt
What is the slope of the budget line determined by?
4.
MULTIPLE CHOICE
30 sec • 1 pt
What is the purpose of assigning utility numbers to different bundles?
5.
MULTIPLE CHOICE
30 sec • 1 pt
What does a higher utility number indicate?
6.
MULTIPLE CHOICE
30 sec • 1 pt
What is marginal utility?
7.
MULTIPLE CHOICE
30 sec • 1 pt
What happens to marginal utility as more units of a good are consumed?
8.
MULTIPLE CHOICE
30 sec • 1 pt
How do consumers decide which bundle of goods to choose?
9.
MULTIPLE CHOICE
30 sec • 1 pt
What does the equality of marginal utility per dollar spent on different goods indicate?
10.
MULTIPLE CHOICE
30 sec • 1 pt
How can the model of consumer choice be extended?
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