1. EQ #4 – AGEC 105 (4 pts in total) Capps - Sept. 16, 2013
Suppose that Robbin budgets $12/week for Wings ‘n’ Sudes and suppose that the price of buffalo wings is $0.50, while the price of Coca-Cola is $1.50.
(1/2pt) (a) What is the maximum number of buffalo wings that Robbin may buy?
(1/2pt) (b) What is the maximum number of Coca-Cola drinks that Robbin may buy?
(1/2pt) (c) At point C, the consumer is said to be at ____________________.
(1/2pt) (d) At point C, the slope of the budget line and the MRS are not equal. TRUE or FALSE?
(1/2pt) (e) The optimal combination of goods for this consumer is 12 buffalo wings and 4 drinks of Coca-Cola. TRUE or FALSE?
Buffalo Wings 12 C 4
Coca-Cola

2. Quantity of
Subway sandwiches
(1/2pt) (a) The reason that the budget line rotated counterclockwise is due to the fact that the prices of Subway sandwiches fell. TRUE or FALSE?
(1/2pt) (b) If the expenditure allotted to buy Subway and Chick-Fil-A sandwiches equals $60, what is the price of a Chick-Fil-A sandwich?
Assume that for a given consumer, the marginal utility of food is 160 and the price of food is $40. Also, assume that the marginal utility of environmental quality is 500 and the price of environmental quality of $100. This consumer should partake in more environmental quality. TRUE or FALSE? 15 10 20
Quantity of Chick-Fil-A

3. Random Question
All the top names in the food business use GMOs. Together eight companies make up more than 90% of food products from grocery retailers. Name two of these food companies.