A Consumer Has Been Buying 5 Magazines and 2 Books

question 65

Multiple Choice

A consumer has been buying 5 magazines and 2 books a month for many months. The price of books then increases. To attain a new optimum, the consumer will

• A) buy more magazines because they are now relatively more valuable than they were before, while continuing to buy the same number of books.
• B) buy more books because they are now relatively more valuable than they were before.
• C) buy the same number of books and magazines as before because they provide different types of utility.
• D) buy fewer books than before because they are relatively more expensive than they were before.

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Definitions:

Schein

A theorist known for his work on organizational culture, including the iceberg model which describes three levels of organizational culture: artifacts, espoused values, and underlying assumptions.

Team-Building Process

The activities and strategies used to enhance social relations and define roles within teams, aimed at improving team performance.

Planning

Planning sets objectives and identifies the actions needed to achieve them.

Role Negotiation

A process for discussing and agreeing upon what team members expect of one another.