Answer this question.

If I measure my marginal utility for my 100th McDonald's hamburger to be 8, and my first Coke to be 7, then which one will I consume next?

Define: consumer equilibrium. How do price changes upset consumer equilibrium?

Define: consumer equilibrium. How do price changes upset consumer equilibrium?

Define: income and substitution effects.

What is elasticity?

What is likely to be more elastic: the demand for JSU T-shirts or the demand for JSU football T-shirts?