​One Should Be Wary of Consultants Peddling Best Practices or Secrets

question 11

Multiple Choice

​One should be wary of consultants peddling best practices or secrets to success because

• A)​They have different incentives than you do
• B)Such best practices are public knowledge and easily duplicated
• C)These best practices can at best only provide temporary profitability
• D)​All of the above

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Definitions:

Budget Line

A visual depiction that shows all the different combinations of two products that can be bought within a specified budget, based on their current prices.

Highest Attainable

Refers to the best or most favorable outcome or state that can be achieved within given constraints.

Total Utility

The overall satisfaction or fulfillment a consumer receives from consuming a given quantity of goods and services.

Marginal Utility

This refers to the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.