In Figure 9

question 133

Multiple Choice

In Figure 9.2,if the consumption function shifts from C₁ to C₂,it can be determined that the

• A)MPC and APC have increased at each income level.
• B)MPC and APC have decreased at each income level.
• C)MPC has increased and the APC has stayed the same at each income level.
• D)APC has increased and the MPC has stayed the same at each income level.

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Definitions:

Controllable Factor

An element or variable in a business or process that can be modified or adjusted according to the needs of the manager or operator.

Experience Economy

An economic concept where businesses create memorable events for their customers, and the memory itself becomes the product.

Service Blueprint

A detailed diagram that visualizes the service process, points of customer contact, and the front and back-office activities that a service entails.

Customer Contact Audit

An evaluation process that examines all the points of interaction between a customer and a company to improve customer service and experience.