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Question : 51) In making decisions about what to consume, a person’s : 1245222

Economics

 

 

51) In making decisions about what to consume, a person’s goal is to

A) allocate her limited income among all the products she wishes to buy so that she receives the highest total utility.

B) buy low-priced goods rather than high-priced goods.

C) maximize her marginal utility from the goods and services she wishes to buy using her limited income.

D) consume as many necessities as possible and then, if there is money left over, to buy luxuries.

 

52) The amount of income a consumer has to spend on goods and services is known as

A) purchasing power.

B) effective demand.

C) a budget constraint.

D) wealth.

53) A budget constraint

A) represents the bundles of consumption that make a consumer equally happy.

B) refers to the limited amount of income available to consumers to spend on good and services.

C) reflects the desire by consumers to increase their income.

D) shows the prices that a consumer chooses to pay for products he consumes.

 

54) The restriction that a consumer’s total expenditure on goods and services purchased cannot exceed the income available is referred to as

A) maximizing behavior.

B) economizing behavior.

C) the price constraint.

D) the budget constraint.

 

55) Which of the following is explained by the law of diminishing marginal utility?

A) The marginal utility of Isabel’s second bottle of Coca-Cola is greater than the marginal utility of her third bottle of Coca-Cola.

B) The marginal utility of Isabel’s second bottle of Coca-Cola is greater than the marginal utility of her third pretzel.

C) The marginal utility of Isabel’s second bottle of Coca-Cola is greater than the marginal utility of her friend Margie’s third pretzel.

D) The total utility of one bottle of Coca-Cola is greater than the total utility of two bottles of Coca-Cola.

 

56) Marv Pilson has $50 worth of groceries in a shopping cart at his local Shop ‘n Save. Assume that the marginal utility per dollar of the liter bottles of soft drink in Marv’s cart equals 50. The marginal utility per dollar of the boxes of cereal in Marv’s cart equals 20. Marv has only $50 to spend, but has not yet paid for his groceries. How can Marv increase his total utility without spending more than $50?

A) Marv should substitute his favorite soft drink or the cereal in his cart for generic brands that have lower prices.

B) Marv should buy more boxes of cereal and fewer bottles of soft drink.

C) Marv should buy fewer boxes of cereal and more bottles of soft drink.

D) Marv should buy fewer boxes of cereal and fewer bottles of soft drink. He can then spend more on other items.

 

Table 7-3

 

Ice Cream Cones

Lime Fizz Soda

Quantity

MU

MU

1

30

40

2

25

35

3

20

26

4

15

18

5

10

15

6

  5

  7

 

57) Refer to Table 7-3. The table above shows Lee’s marginal utility per dollar from consuming ice cream cones and cans of Lime Fizz Soda. The price of an ice cream cone is $2 and the price of Lime Fizz Soda is $1. Use this information to select the correct statement.

A) We cannot determine how many ice cream cones and cans of Lime Fizz Soda Lee will consume without knowing what his income is.

B) To maximize his utility Lee should consume 1 ice cream cone and 5 cans of Lime Fizz Soda.

C) We cannot determine how many ice cream cones and cans of Lime Fizz Soda will maximize Lee’s utility because we are given only the marginal utility per dollar values. We also need to know the marginal utility for each quantity.

D) If Lee has an unlimited budget he will maximize his utility by buying only Lime Fizz Soda.

 

58) Refer to Table 7-3. The table above shows Lee’s marginal utility from consuming ice cream cones and cans of Lime Fizz Soda. Select the phrase that completes the following statement. “We can determine the number of ice cream cones and cans of Lime Fizz Soda Lee should consume to maximize his utility

A) if we know what Lee’s income is.”

B) if we know what Lee’s income is and the price of an ice cream cone and the price of a can Lime Fizz Soda.”

C) by adding up the marginal utilities for ice cream cones and Lime Fizz Soda.”

D) if we know the values of the marginal utility per dollar for ice cream cones and Lime Fizz Soda.”

 

59) During a study session for an economics exam with three other students, Peter Daltry commented on an example of a consumer who had to decide the on number of slices of pizza and cups of Coca-Cola he would consume. Peter explained that “To maximize his utility this consumer must equate the marginal utility per dollar for pizza and Coca-Cola.” Was Peter’s analysis correct?

A) Peter described one of the conditions necessary for utility maximization. The consumer also must equate the marginal utility of pizza and the marginal utility of cups of Coca-Cola.

B) Peter’s statement is correct.

C) Peter’s statement is correct but we must also assume that the consumer is rational.

D) Peter describes one of the conditions necessary for utility maximization. The second condition is that total spending on both goods must equal the amount available to be spent.

 

Table 7-4

 

Steak & Cheese

Steak & Cheese

Grilled Chicken

Grilled Chicken

Quantity

MU

MU/P

MU

MU/P

1

40

10

30

15

2

32

  8

24

12

3

20

  5

16

  8

4

12

  3

12

  6

5

  6

    1.5

  8

  4

6

  2

    0.5

  4

  2

60) Refer to Table 7-4. For steak and cheese and grilled chicken sandwiches, the table contains the values of the marginal utility (MU) and marginal utility per dollar (MU/P) for Mabel Jarvis. Mabel has $14 to spend on steak and cheese and grilled chicken sandwiches. Which of the following statements is false?

A) The price of steak and cheese sandwiches is $4. The price of grilled chicken sandwiches is $2.

B) If Mabel maximizes her utility she will buy three grilled chicken sandwiches.

C) If Mabel maximizes her utility she will buy two steak and cheese sandwiches.

D) We do not have enough information to determine how many sandwiches Mabel will buy to maximize her utility.

 

 

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July 1, 2023
    

 CIS250 – Advanced Excel Case Study 2 Copyright 2022 Post University, ALL RIGHTS RESERVED Due Date: 11:59 pm EST Sunday of Unit 4 Points: 100 Overview: In this case study, you have been provided with a spreadsheet with a large amount of sales data for a company. The data is not well organized. You have been tasked with figuring out the answers to a number of questions your manager needs to know based on this large dataset of sales data. Instructions: You will need to create Pivot Tables and save each Pivot Table to answer the questions. Please follow the directions below to name each of the Pivot Table sheets you create. You will place the answers to each of the questions on the Answer sheet within the database. Create all your pivot tables based on the worksheet named SalesData.  Open case_study2_Pivot_Tables.xlsx and rename the file to case_study2_LastFirstName.xlsx (use your own first and last name). Question 1: Which Region has the highest Total Profit? Question 2: Which Region has the lowest Total Profit? 1. For questions 1 and 2, create a Pivot Table and place it on a new worksheet to answer questions 1 and 2. 2. Name the worksheet Total Profit. 3. Format profit as Currency. 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 3: What the total profit for the Asia Region? Question 4: Which country within the Asia Region has the lowest total profit? 1. For questions 3 and 4, create a Pivot Table and place it on a new worksheet to answer questions 3 and 4. NOTE – You should use a filter to figure out this answer. 2. Name the worksheet Total Profit-Asia. 3. Format profit as Currency. Copyright 2022 Post University, ALL RIGHTS RESERVED 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 5: Which Item Type has the largest total Unit Cost in 2015? Question 6: What was the total cost of that item type? 1. For questions 5 and 6, create a Pivot Table and place it on a new worksheet to answer questions 5 and 6. NOTE: You need to add one of the date fields. When you add a date field to a pivot table, it will automatically group the dates. You will want to use only the Year Field to answer this question. You do not have to filter, but it will make answering the question easier. 2. Name the worksheet Item Type-Cost. 3. Format cost as Currency. 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 7: How many total orders were through the Offline sales channel? Question 8: How many total orders were through the Online sales channel? 1. For questions 7 and 8, create a Pivot Table and place it on a new worksheet to answer questions 7 and 8. 2. Name the worksheet Count-SalesChannel. 3. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 9: Which Item Type sold the most units in the Europe Region in 2015? Question 10: Which Item Type sold the most units in the Asia and Sub-Saharan Regions for the years 2016 and 2017? 1. For questions 9 and 10, create a Pivot Table and place it on a new worksheet to answer questions 9 and 10. 2. Name the worksheet Count-RegionYear. 3. You may need to change the Value field to Count. 4. You will need to add a slicer for the Region and Year to get your answer. 5. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 11: Which Item Type had the largest % of the grand total Units Sold in all Regions? Question 12: What is the percent value from Question 11? Question 13: Which Item Type had the largest % of the grand total Units Sold in the Central America and the Caribbean Region? Question 14: What is the percent value from Question 14? Copyright 2022 Post University, ALL RIGHTS RESERVED 1. For questions 11, 12, 13 and 14, create a Pivot Table and place it on a new worksheet to answer questions 11, 12, 13 and 14. NOTE: You need to change the values field to Show Values as to show the % of Grand Total. You will need to filter for the Region in order to answer question 13 and 14. 2. Name the worksheet %Count-Region. 3. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Save and close the file. Requirements:  Submit the completed case_study2_LastFirstName.xlsx Excel file. Be sure to read the criteria below by which your work will be evaluated. Copyright 2022 Post University, ALL RIGHTS RESERVED Evaluation Rubric for Case Study 2 Assignment CRITERIA POINTS Save as case_study2_ LastFirstName 1 Worksheet with name Total Profit Present 1 Answer to Question 1 Correct 5 Answer to Question 2 Correct 5 Values formatted to Currency 4 Worksheet with name Total Profit-Asia Present 1 Answer to Question 3 Correct 5 Answer to Question 4 Correct 5 Values formatted to Currency 4 Worksheet with name Item Type-Cost Present 1 Answer to Question 5 Correct 5 Answer to Question 6 Correct 5 Values formatted to Currency 4 Worksheet with name Count-SalesChannel Present 1 Answer to Question 7 Correct 5 Answer to Question 8 Correct 5 Worksheet with name Count-RegionYear Present 2 Answer to Question 9 Correct 5 Answer to Question 10 Correct 5 Two Slicers added to sheet 5 Worksheet with name %Count-Region Present 1 Answer to Question 11 Correct 5 Answer to Question 12 Correct 5 Answer to Question 13 Correct 5 Answer to Question 14 Correct 5 Values changed to % of Grand Total 5 

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July 1, 2023
    

 CIS250 – Advanced Excel Case Study 2 Copyright 2022 Post University, ALL RIGHTS RESERVED Due Date: 11:59 pm EST Sunday of Unit 4 Points: 100 Overview: In this case study, you have been provided with a spreadsheet with a large amount of sales data for a company. The data is not well organized. You have been tasked with figuring out the answers to a number of questions your manager needs to know based on this large dataset of sales data. Instructions: You will need to create Pivot Tables and save each Pivot Table to answer the questions. Please follow the directions below to name each of the Pivot Table sheets you create. You will place the answers to each of the questions on the Answer sheet within the database. Create all your pivot tables based on the worksheet named SalesData.  Open case_study2_Pivot_Tables.xlsx and rename the file to case_study2_LastFirstName.xlsx (use your own first and last name). Question 1: Which Region has the highest Total Profit? Question 2: Which Region has the lowest Total Profit? 1. For questions 1 and 2, create a Pivot Table and place it on a new worksheet to answer questions 1 and 2. 2. Name the worksheet Total Profit. 3. Format profit as Currency. 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 3: What the total profit for the Asia Region? Question 4: Which country within the Asia Region has the lowest total profit? 1. For questions 3 and 4, create a Pivot Table and place it on a new worksheet to answer questions 3 and 4. NOTE – You should use a filter to figure out this answer. 2. Name the worksheet Total Profit-Asia. 3. Format profit as Currency. Copyright 2022 Post University, ALL RIGHTS RESERVED 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 5: Which Item Type has the largest total Unit Cost in 2015? Question 6: What was the total cost of that item type? 1. For questions 5 and 6, create a Pivot Table and place it on a new worksheet to answer questions 5 and 6. NOTE: You need to add one of the date fields. When you add a date field to a pivot table, it will automatically group the dates. You will want to use only the Year Field to answer this question. You do not have to filter, but it will make answering the question easier. 2. Name the worksheet Item Type-Cost. 3. Format cost as Currency. 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 7: How many total orders were through the Offline sales channel? Question 8: How many total orders were through the Online sales channel? 1. For questions 7 and 8, create a Pivot Table and place it on a new worksheet to answer questions 7 and 8. 2. Name the worksheet Count-SalesChannel. 3. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 9: Which Item Type sold the most units in the Europe Region in 2015? Question 10: Which Item Type sold the most units in the Asia and Sub-Saharan Regions for the years 2016 and 2017? 1. For questions 9 and 10, create a Pivot Table and place it on a new worksheet to answer questions 9 and 10. 2. Name the worksheet Count-RegionYear. 3. You may need to change the Value field to Count. 4. You will need to add a slicer for the Region and Year to get your answer. 5. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 11: Which Item Type had the largest % of the grand total Units Sold in all Regions? Question 12: What is the percent value from Question 11? Question 13: Which Item Type had the largest % of the grand total Units Sold in the Central America and the Caribbean Region? Question 14: What is the percent value from Question 14? Copyright 2022 Post University, ALL RIGHTS RESERVED 1. For questions 11, 12, 13 and 14, create a Pivot Table and place it on a new worksheet to answer questions 11, 12, 13 and 14. NOTE: You need to change the values field to Show Values as to show the % of Grand Total. You will need to filter for the Region in order to answer question 13 and 14. 2. Name the worksheet %Count-Region. 3. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Save and close the file. Requirements:  Submit the completed case_study2_LastFirstName.xlsx Excel file. Be sure to read the criteria below by which your work will be evaluated. Copyright 2022 Post University, ALL RIGHTS RESERVED Evaluation Rubric for Case Study 2 Assignment CRITERIA POINTS Save as case_study2_ LastFirstName 1 Worksheet with name Total Profit Present 1 Answer to Question 1 Correct 5 Answer to Question 2 Correct 5 Values formatted to Currency 4 Worksheet with name Total Profit-Asia Present 1 Answer to Question 3 Correct 5 Answer to Question 4 Correct 5 Values formatted to Currency 4 Worksheet with name Item Type-Cost Present 1 Answer to Question 5 Correct 5 Answer to Question 6 Correct 5 Values formatted to Currency 4 Worksheet with name Count-SalesChannel Present 1 Answer to Question 7 Correct 5 Answer to Question 8 Correct 5 Worksheet with name Count-RegionYear Present 2 Answer to Question 9 Correct 5 Answer to Question 10 Correct 5 Two Slicers added to sheet 5 Worksheet with name %Count-Region Present 1 Answer to Question 11 Correct 5 Answer to Question 12 Correct 5 Answer to Question 13 Correct 5 Answer to Question 14 Correct 5 Values changed to % of Grand Total 5 

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July 1, 2023
    

 CIS250 – Advanced Excel Case Study 2 Copyright 2022 Post University, ALL RIGHTS RESERVED Due Date: 11:59 pm EST Sunday of Unit 4 Points: 100 Overview: In this case study, you have been provided with a spreadsheet with a large amount of sales data for a company. The data is not well organized. You have been tasked with figuring out the answers to a number of questions your manager needs to know based on this large dataset of sales data. Instructions: You will need to create Pivot Tables and save each Pivot Table to answer the questions. Please follow the directions below to name each of the Pivot Table sheets you create. You will place the answers to each of the questions on the Answer sheet within the database. Create all your pivot tables based on the worksheet named SalesData.  Open case_study2_Pivot_Tables.xlsx and rename the file to case_study2_LastFirstName.xlsx (use your own first and last name). Question 1: Which Region has the highest Total Profit? Question 2: Which Region has the lowest Total Profit? 1. For questions 1 and 2, create a Pivot Table and place it on a new worksheet to answer questions 1 and 2. 2. Name the worksheet Total Profit. 3. Format profit as Currency. 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 3: What the total profit for the Asia Region? Question 4: Which country within the Asia Region has the lowest total profit? 1. For questions 3 and 4, create a Pivot Table and place it on a new worksheet to answer questions 3 and 4. NOTE – You should use a filter to figure out this answer. 2. Name the worksheet Total Profit-Asia. 3. Format profit as Currency. Copyright 2022 Post University, ALL RIGHTS RESERVED 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 5: Which Item Type has the largest total Unit Cost in 2015? Question 6: What was the total cost of that item type? 1. For questions 5 and 6, create a Pivot Table and place it on a new worksheet to answer questions 5 and 6. NOTE: You need to add one of the date fields. When you add a date field to a pivot table, it will automatically group the dates. You will want to use only the Year Field to answer this question. You do not have to filter, but it will make answering the question easier. 2. Name the worksheet Item Type-Cost. 3. Format cost as Currency. 4. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 7: How many total orders were through the Offline sales channel? Question 8: How many total orders were through the Online sales channel? 1. For questions 7 and 8, create a Pivot Table and place it on a new worksheet to answer questions 7 and 8. 2. Name the worksheet Count-SalesChannel. 3. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 9: Which Item Type sold the most units in the Europe Region in 2015? Question 10: Which Item Type sold the most units in the Asia and Sub-Saharan Regions for the years 2016 and 2017? 1. For questions 9 and 10, create a Pivot Table and place it on a new worksheet to answer questions 9 and 10. 2. Name the worksheet Count-RegionYear. 3. You may need to change the Value field to Count. 4. You will need to add a slicer for the Region and Year to get your answer. 5. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Question 11: Which Item Type had the largest % of the grand total Units Sold in all Regions? Question 12: What is the percent value from Question 11? Question 13: Which Item Type had the largest % of the grand total Units Sold in the Central America and the Caribbean Region? Question 14: What is the percent value from Question 14? Copyright 2022 Post University, ALL RIGHTS RESERVED 1. For questions 11, 12, 13 and 14, create a Pivot Table and place it on a new worksheet to answer questions 11, 12, 13 and 14. NOTE: You need to change the values field to Show Values as to show the % of Grand Total. You will need to filter for the Region in order to answer question 13 and 14. 2. Name the worksheet %Count-Region. 3. Type in or copy and paste your answers on the Answer Column on the Answers worksheet. Save and close the file. Requirements:  Submit the completed case_study2_LastFirstName.xlsx Excel file. Be sure to read the criteria below by which your work will be evaluated. Copyright 2022 Post University, ALL RIGHTS RESERVED Evaluation Rubric for Case Study 2 Assignment CRITERIA POINTS Save as case_study2_ LastFirstName 1 Worksheet with name Total Profit Present 1 Answer to Question 1 Correct 5 Answer to Question 2 Correct 5 Values formatted to Currency 4 Worksheet with name Total Profit-Asia Present 1 Answer to Question 3 Correct 5 Answer to Question 4 Correct 5 Values formatted to Currency 4 Worksheet with name Item Type-Cost Present 1 Answer to Question 5 Correct 5 Answer to Question 6 Correct 5 Values formatted to Currency 4 Worksheet with name Count-SalesChannel Present 1 Answer to Question 7 Correct 5 Answer to Question 8 Correct 5 Worksheet with name Count-RegionYear Present 2 Answer to Question 9 Correct 5 Answer to Question 10 Correct 5 Two Slicers added to sheet 5 Worksheet with name %Count-Region Present 1 Answer to Question 11 Correct 5 Answer to Question 12 Correct 5 Answer to Question 13 Correct 5 Answer to Question 14 Correct 5 Values changed to % of Grand Total 5 

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  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

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Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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