Good Y Is Measured on the Vertical Axis and Good

question 83

Multiple Choice

Good Y is measured on the vertical axis and good X on the horizontal axis.If the price of Y is zero,the price of X is $10,and the consumer's income $100,the budget line:

• A)would coincide with the vertical axis.
• B)would be horizontal at $10 on the Y axis.
• C)would be vertical at 10 units on the X axis.
• D)would coincide with the horizontal axis.

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Definitions:

Managerial Policies

Guidelines, rules, and procedures established by an organization's management to dictate and guide decision-making and operational practices.

Balance Sheet

A financial statement that shows assets and liabilities at one point in time.

Profits

The financial gain realized when the revenues of a business exceed the costs and expenses related to its operation.

Losses

The negative difference between the cost of investment and its current value or selling price.