As a Result of a Decrease in the Price of Hamburgers

question 45

Multiple Choice

As a result of a decrease in the price of hamburgers, consumers buy more hamburgers and more T-bone steak.This is an illustration of:

• A)irrational consumer behaviour.
• B)changing tastes and preferences.
• C)the substitution effect.
• D)the income effect.

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Definitions:

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled, focusing on the interests of stakeholders, including shareholders, management, customers, suppliers, financiers, government, and the community.

Unethical

Actions or behaviors that violate moral or professional principles and standards.

Corporate Social Responsibility

The practice of businesses engaging in initiatives that benefit society, beyond their financial interests and legal requirements.

Shareholder Wealth

The overall value of the investments shareholders have in a company, typically measured through the market value of the company's shares.