Figure 21-20 The Following Graph Illustrates a Representative Consumer's Preferences for Marshmallows

question 247

Multiple Choice

Figure 21-20
The following graph illustrates a representative consumer's preferences for marshmallows and chocolate chip cookies:
-Refer to Figure 21-20. Assume that the consumer has an income of $80. If the price of chocolate chips is $4 and the price of marshmallows is $4, the optimizing consumer would choose to purchase

• A)9 marshmallows and 6 chocolate chips.
• B)10 marshmallows and 10 chocolate chips.
• C)5 marshmallows and 5 chocolate chips.
• D)3 marshmallows and 9 chocolate chips.

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Definitions:

Goal Difficulty

This concept pertains to the extent of challenge and effort required to achieve a stated objective.

Goal Clarity

The extent to which the goals of a project or organization are understood and clear to all members involved.

Goal Consistency

Refers to the alignment and compatibility of individual or group objectives with the broader organizational goals.

Goal Agreement

A mutual understanding or arrangement between parties regarding the objectives to be achieved.