If the Slope of the Indifference Curve Is Steeper Than

question 10

Multiple Choice

If the slope of the indifference curve is steeper than the slope of the budget line,and X is on the horizontal axis:

• A) the consumer is willing to give up more of good Y to get an additional unit of good X than is necessary under the current market prices.
• B) MRS < P_X /P_Y.
• C) MRS < −P_X /P_Y.
• D) the consumer is willing to give up more of good X to get an additional unit of good Y than is necessary under the current market prices.

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Definitions:

Product Mix Breadth

The variety of different product lines that a company offers to its customers.

Product Line Depth

Refers to the variety of products offered within a single product line, differentiated by features, sizes, quality levels or other attributes.

Brand Repositioning

A strategy in which marketers change a brand’s focus to target new markets or realign the brand’s core emphasis with changing market preferences.

Co-branding

A marketing partnership between two brands where they collaborate on a product or promotion to leverage each other's brand equity.