A Consumer Maximizes Satisfaction at the Point Where His Subjective

question 32

Multiple Choice

A consumer maximizes satisfaction at the point where his subjective valuation of good X measured as the amount of good Y he or she is willing to give up to obtain an additional unit of X equals

• A) the slope of the indifference curve through that point.
• B) one over the slope of the indifference curve through that point.
• C) Px / Py.
• D) Py / Px.
• E) Y / Px.

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Definitions:

Cultural Values

are the core principles and ideals that shape behaviors, attitudes, and norms within a specific society or group.

Collective Beliefs

Represent the shared or common beliefs, values, or attitudes among a group of individuals.

Organizational

Pertaining to the structure or coordination of an organization, including its processes, systems, and management practices.

Socialize Members

The process of integrating new members into a group, team or organization, teaching them its norms and values.