A Decrease in the Prices of Two Products That a Consumer

question 58

Multiple Choice

A decrease in the prices of two products that a consumer buys out of a constant budget would cause the consumer's

• A)indifference curves to shift outward from the origin.
• B)indifference curves to shift inward to the origin.
• C)budget line to shift outward from the origin.
• D)budget line to shift inward to the origin.

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Definitions:

Referent Power

A form of power that stems from being admired or respected, leading others to identify with or want to be like the person wielding this power.

Personal and Professional Development

The continuous process of acquiring new skills and knowledge that relate to one's profession, personal aspirations, and self-improvement.

Transformational Leaders

Leaders who inspire and motivate their followers to exceed their own self-interests for the betterment of the organization through vision and passion.

Use of Power

The application of influence, control, or authority in order to achieve desired outcomes within a social context.