When an Individual's Consumption of an Additional Unit of a Good

question 133

Multiple Choice

When an individual's consumption of an additional unit of a good generates a smaller increase in total utility than the previous unit consumed,then this person's indifference curve will be:

• A)a straight line.
• B)convex,or bowed toward the origin.
• C)concave,or bowed away from the origin.
• D)a right angle.

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Definitions:

Strategic Leadership

The ability to influence others to voluntarily make decisions that enhance the prospects for the organisation's long-term success.

Incrementalism

A policy or decision-making process based on making small changes or adjustments, rather than large leaps, to gradually reach a desired outcome.

Strategic Planning

The process of defining an organization's direction and making decisions on allocating its resources to pursue this strategy.

Managers' Learning

The ongoing process through which managers acquire new skills, knowledge, and insights to improve their leadership abilities and enhance organizational performance.