Question : Directions: If N > H > Q = X and H = F = C < T, then which of the following options is NOT correct?

Option 1: C < X

Option 2: Q < C

Option 3: H < T

Option 4: N > X

Question : Consumer equilibrium is the point at which_________

Option 1: MU < Price

Option 2: MU = Price

Option 3: MU > Price

Option 4: None of the above

Question : A consumer's utility function is $\mathrm{U}=\mathrm{X}^{\wedge} 2+\mathrm{Y}^{\wedge} 2$. If the consumer is currently consuming $\mathrm{X}=3$ and $\mathrm{Y}=4$, what is the marginal rate of substitution (MRS) of $\mathrm{X}$ for $\mathrm{Y}$ ?

Option 1: 3/4

Option 2: 4/3

Option 3: 9/16

Option 4: 16/9

Question : A consumer's utility function is $\mathrm{U}=\mathrm{X}^{\wedge} 2+\mathrm{Y}^{\wedge} 2$. If the consumer is currently consuming $\mathrm{X}=3$ and $\mathrm{Y}=4$, what is the marginal rate of substitution (MRS) of $\mathrm{X}$ for $\mathrm{Y}$ ?

Option 1: 3/4

Option 2: 4/3

Option 3: 9/16

Option 4: 16/9

Question : A consumer's utility function is $\mathrm{U}=\mathrm{X}^{\wedge} 2+\mathrm{Y}^{\wedge} 2$. If the consumer is currently consuming $\mathrm{X}=4$ and $\mathrm{Y}=3$, what is the marginal rate of substitution (MRS) of $\mathrm{X}$ for $\mathrm{Y}$ ?

Option 1: 3/4

Option 2: 4/3

Option 3: 9/16

Option 4: 16/9