Figure 5-1 Shows the Preferences of a Consumer for Food

question 38

Multiple Choice

Figure 5-1 shows the preferences of a consumer for food and other goods.He is initially in equilibrium at point A where the budget line MN is tangent to the indifference curve.
Figure 5-1
-In Figure 5-1,the total cost incurred by the government on the excise subsidy is given by _____.

• A)CE
• B)BF
• C)CH
• D)BJ

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Definitions:

Incompetent

Lacking the necessary skills, knowledge, or ability to do something successfully or as expected.

Funding

The act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project, usually by an organization or government.

Competitors' Products

Goods or services offered by rival businesses in the same industry, which vie for the same customer base or market share.

Business Incubator

An organization designed to help new and startup companies to develop by providing services such as management training or office space.