In an Indifference Curve/budget Line Diagram, a Consumer Will Select

question 357

Multiple Choice

In an indifference curve/budget line diagram, a consumer will select the combination of goods that is on the budget line and for which the

• A) marginal rate of substitution between two goods is equal to the relative price of the two goods.
• B) marginal rate of substitution between two goods is greater than the relative price of the two goods.
• C) slope of the indifference curve is less than the relative price of the two goods.
• D) slope of the indifference curve is greater than the relative price of the two goods.

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Definitions:

Protection Motivation Theory

A psychological theory that explains how individuals are motivated to protect themselves from harmful events through threat appraisal and coping appraisal processes.

Theory Of Planned Behaviour

The Theory of Planned Behaviour is a psychological theory that links beliefs and behavior, suggesting that an individual’s behavior is driven by their intentions, attitudes, subjective norms, and perceived control over the behavior.

Theory Of Reasoned Action

A psychological model asserting that an individual's intention to engage in a behavior is a primary determinant of that action, influenced by attitudes towards the behavior and subjective norms.

Predict A Person's Behaviour

The process of forecasting an individual's actions based on observations, patterns, or knowledge about their past behavior or predispositions.