Assume That a Consumer Has a Given Budget or Income

question 103

Multiple Choice

Assume that a consumer has a given budget or income of $12 and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. If the consumer decides to buy 4 apples, how many bananas can she also buy with the remainder of her budget, assuming she exhausts her income?

• A)8 bananas
• B)4 bananas
• C)6 bananas
• D)10 bananas

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Definitions:

Pay-for-Performance

A compensation strategy where employees' pay is based on their performance or achievements in their role.

Performance Evaluations

The process of assessing and reviewing an employee's job performance through documented evaluations and feedback.

360-Degree Feedback

A performance appraisal method where an employee is evaluated by feedback from superiors, peers, subordinates, and sometimes clients.

Bias

Prejudice in favor of or against one thing, person, or group compared with another, often in a way considered to be unfair.