Exhibit 6A-5 Consumer Equilibrium

question 87

Multiple Choice

Exhibit 6A-5 Consumer Equilibrium
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-Given the budget lines and indifference curves shown in Exhibit 6A-5, if the budget line shifts from AB to AC, then the equilibrium points X and Y:

• A) result from a decrease in the price of good X.
• B) are two points along a downward sloping demand curve for good X.
• C) result from a decrease in the consumer's budget.
• D) result from a decrease in the price of good Y.

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Definitions:

Operating Efficiencies

The effectiveness and productivity with which an organization utilizes its resources in the process of producing goods or services.

Supply Chain Management

The coordination and management of activities involved in making and delivering products from raw materials to final customers.

Value Chain Management

The process of managing activities and processes to add value to a product or service through efficient supply chain operations.

Customer Relationship Management

A strategy for managing an organization's interactions with current and future customers, typically using data analysis to study large amounts of information.