If Ewan Is Consuming His Utility Maximising Bundle and the Price

question 105

Multiple Choice

If Ewan is consuming his utility maximising bundle and the price of one good falls, what happens to the marginal utility per dollar spent on this good (MU/P) , and what should Ewan do?

• A)MU/P has increased, and Ewan should buy more of this good.
• B)MU/P has increased, and Ewan should buy less of this good.
• C)MU/P has decreased, and Ewan should buy more of this good.
• D)MU/P has decreased, and Ewan should buy less of this good.

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Definitions:

Strategic Role

The part played by individuals, groups, or entities in achieving long-term goals or fulfilling a purpose within an organizational or theoretical framework.

Human Resource Professionals

Individuals specializing in managing and developing an organization's workforce, including recruitment, training, performance management, and employee relations.

Human Capital

Human Capital refers to the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Strategic Business Partner

Refers to individuals or entities that collaboratively work with an organization to achieve its strategic objectives, often contributing expertise or resources.