Scenario 21-1 Suppose the Price of Hot Wings Is $10,the Price of Price

question 345

Multiple Choice

Scenario 21-1
Suppose the price of hot wings is $10,the price of beer is $1,and the consumer's income is $50.In addition,suppose the consumer's budget constraint illustrates hot wings on the horizontal axis and beer on the vertical axis.
-Refer to Scenario 21-1.If the price of beer doubles to $2,then the

• A) budget constraint intersects the vertical axis at 25 beers.
• B) slope of the budget constraint rises to -2.
• C) budget constraint intersects the vertical axis at 100 beers.
• D) budget constraint shifts inward in a parallel fashion.

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Definitions:

Market Segment

A subgroup of a larger market, defined by distinct characteristics, needs, or behaviors, that is targeted with specific marketing efforts.

Accessible

The quality of being easy to approach, reach, enter, or use for people with disabilities or others.

Market Segments

Distinct groups of potential customers with similar needs, desires, and characteristics that a company targets with tailored marketing strategies.

Urban Fashions

Clothing styles that emerge from urban cultures and lifestyles, often reflecting the dynamic and diverse aspects of city life.