A Consumer Is Attempting to Maximize Utility in Her Consumption

question 64

Multiple Choice

A consumer is attempting to maximize utility in her consumption of goods A and B.If her income and the price of good A do not change but the marginal utility of good B is constant and the price of good B decreases,this will _____ utility per dollar spent on good B.

• A)decrease the marginal
• B)not affect the marginal
• C)decrease the total
• D)increase the marginal

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Definitions:

On-time Deliveries

The performance metric that measures the percentage of orders delivered to the customer within the agreed-upon delivery time.

Organizational Architecture

The structure of an organization. Consists of the assignment of decision rights within the organization, the methods of rewarding individuals, and the systems to evaluate the performance of both individuals and business units.

Product Redesign

The process of changing or updating a product’s features, performance, or aesthetics to meet new market demands or improve efficiency.

Just-In-Time

A production strategy aimed at reducing times within the production system as well as response times from suppliers and to customers.