Suppose a Consumer Can Purchase Only Two Goods,pasta and Cheese

question 29

Multiple Choice

Suppose a consumer can purchase only two goods,pasta and cheese.Let the quantity of pasta be measured on the vertical axis and the quantity of cheese be measured on the horizontal axis.If the price of pasta falls,with no change in the price of cheese or in the consumer's money income,then the budget line for the consumer will rotate

• A)outward parallel to the existing budget line.
• B)toward the origin and become steeper.
• C)away from the origin and become steeper.
• D)away from the origin and become flatter.
• E)toward the origin and become flatter.

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Definitions:

Source Inspection

Quality control methodology where components or materials are inspected at the supplier's site before shipment to the manufacturer.

Employee Empowerment

The practice of giving employees the autonomy, resources, and skills to make decisions within their roles, aiming to improve satisfaction and productivity.

Poka-yoke

A Japanese term for a mistake-proofing technique designed to avoid errors in the manufacturing process, enhancing quality control.

Pareto Analysis

A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It is based on the principle that 80% of effects come from 20% of causes.