This Graph Shows Three Different Budget Constraints: A,B,and C

question 86

Multiple Choice

This graph shows three different budget constraints: A,B,and C. If Gary has budget constraint A,and the price of milk is $3 a gallon,what is Gary's income?

• A)$9
• B)$27
• C)$12
• D)Cannot answer this without knowing the price of soda.

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Definitions:

Behavioral Segmentation Variable

Criteria used in market segmentation based on patterns of consumer behavior, such as purchasing habits or brand interactions, to tailor marketing strategies.

Age

A measure of the length of time that a person has lived or a thing has existed, often used as a variable in demographics and market segmentation.

Psychographic Characteristics

Attributes relating to consumers' lifestyles, interests, attitudes, values, and personality traits, used in market segmentation to understand buying behaviors.

Lifestyles

Patterns of behavior or ways of living that reflect the attitudes, values, and consumption habits of an individual or group.