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

question 50

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 outlay on other goods before the excise subsidy is given by _____.

• A)0M
• B)0N
• C)0E
• D)0G

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Definitions:

Assembly Lines

A manufacturing process in which parts are added to a product in a sequential manner using optimally planned workflows in order to create a finished product efficiently.

Relationship Management

Strategies and practices for managing an organization’s interactions with customers, clients, and sales prospects.

Short-term Interactions

Brief or temporary exchanges or relationships between individuals or entities, often with specific and limited objectives.

Consumer Orientation

A business approach that prioritizes identifying and meeting the needs and wants of consumers.