Figure 21-19 The Following Graph Illustrates a Representative Consumer's Preferences for Marshmallows

question 167

Multiple Choice

Figure 21-19
The following graph illustrates a representative consumer's preferences for marshmallows and chocolate chip cookies:

-Refer to Figure 21-19.Assume that the consumer has an income of $100 and currently optimizes at bundle A.When the price of marshmallows decreases to $5,which bundle will the optimizing consumer choose?

• A) A
• B) B
• C) C
• D) D

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Definitions:

Job Simplification

This is a management technique that involves breaking down jobs into their simplest components in order to increase productivity by reducing complexity and enhancing efficiency.

Compressed Workweek

An alternative work arrangement that allows a full-time job to be completed in fewer days than the traditional five-day workweek, often involving longer daily hours but resulting in an additional day off.

Organisation Disadvantages

Refers to the potential drawbacks or negative aspects that can arise within an organization, such as inefficiency, communication breakdowns, or decreased morale.

Individual Benefits

Advantages or gains that accrue directly to a person from their actions or investments.