{"id":813,"date":"2017-10-29T11:52:59","date_gmt":"2017-10-29T05:52:59","guid":{"rendered":"https:\/\/mcqacademy.com\/en\/mcq\/suppose-that-a-consumers-preferences-are-well-range-is\/"},"modified":"2017-10-29T11:52:59","modified_gmt":"2017-10-29T05:52:59","slug":"suppose-that-a-consumers-preferences-are-well-range-is","status":"publish","type":"mcq","link":"https:\/\/mcqacademy.com\/en\/mcq\/suppose-that-a-consumers-preferences-are-well-range-is\/","title":{"rendered":"Suppose that a consumer&#8217;s preferences are well&#8230;.range is"},"content":{"rendered":"<p>Suppose that a consumer&#8217;s preferences are well behaved in that properties 4-1-4-4 are satisfied and the initial budget constraint is given by 300 = 2X + 4Y. At the initial budget constraint, this consumer purchases 100 units of good X and 25 units of good Y. Suppose the price of X increases to $4 per unit resulting in a new consumption bundle consisting of 60 units of X and 15 units of Y. Then, slope of the inverse demand for good X over this consumption range is<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","topic":[57],"subject":[5],"class_list":["post-813","mcq","type-mcq","status-publish","hentry","topic-the-theory-of-individual-behavior","subject-managerial-economics"],"mcq_note":"Suppose that a consumer's preferences are well behaved in that properties 4-1-4-4 are satisfied and the initial budget constraint is given by 300 = 2X + 4Y. At the initial budget constraint, this consumer purchases 100 units of good X and 25 units of good Y. Suppose the price of X increases to $4 per unit resulting in a new consumption bundle consisting of 60 units of X and 15 units of Y. Then, slope of the inverse demand for good X over this consumption range is\u00a0-0.05.","mcq_options":[{"right":"no","answer":"0.05"},{"right":"yes","answer":"-0.05"},{"right":"no","answer":"-0.267"},{"right":"no","answer":"-0.444"}],"multi_answers":"no","subject_terms":[{"id":5,"title":"Managerial Economics","slug":"managerial-economics"}],"topic_terms":[{"id":57,"title":"The Theory of Individual Behavior","slug":"the-theory-of-individual-behavior"}],"_links":{"self":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq\/813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq"}],"about":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/types\/mcq"}],"author":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/comments?post=813"}],"wp:attachment":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/media?parent=813"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/topic?post=813"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/subject?post=813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}