2012, Question 2 · 6 points
Theresa's bagels and toy cars
Find total utility and the utility-maximizing bundle with marginal utility per dollar, explain whether an input price change shifts her demand, classify bagels from an income elasticity, and compute a cross-price elasticity.
This exam had three free-response questions to answer in 50 minutes of writing after 10 minutes of planning, with about half the time suggested for Question 1 and the rest split evenly between Questions 2 and 3. The current exam has 3 free-response questions in 60 minutes. The skills these questions practice still count.
Lessons this question draws on
1 Read the question
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Scoring guidelines (PDF, page 3) What the exam readers saw (Student Performance Q&A)
Question, scoring guidelines and Chief Reader report: College Board, from the Internet Archive. The title, summary are ours.