Use the Following to Answer Questions

question 342

Multiple Choice

Use the following to answer questions:
Figure: Indifference Curves and Consumption Bundles
-(Figure: Indifference Curves and Consumption Bundles) Look at the figure Indifference Curves and Consumption Bundles. In the figure, the initial optimum is at a. The price of hot dogs now increases. The change in hot dog consumption due to the substitution effect is:

• A) H₃ to H_2.
• B) H₃ to H_1.
• C) H₂ to H_1.
• D) H₁ to H_2.

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Definitions:

Table Tools Design

A set of specific utilities in spreadsheet and database software used for formatting and designing tables.

Range

The difference between the highest and lowest values in a set, or a set of cells selected in a spreadsheet.

DGET Function

A database function in spreadsheet programs that extracts a single value from a column of a list or database that matches specified conditions.

Numeric Values

Quantities or numbers that are used in calculations and data analysis, essentially another term for numerical data with an emphasis on their value aspect.