Suppose Initially That the Price of X Is $5,the Price

question 2

Multiple Choice

Suppose initially that the price of X is $5,the price of Y is $10,and the consumer's income is $100.If Y is measured on the vertical axis,X is measured on the horizontal axis,and the price of Y increases to $20:

• A)the entire budget line will shift inward toward the origin,with its slope changing from -1/2 to -1/4.
• B)the budget line will pivot inward toward the origin along the X axis,with its slope changing from -1/2 to -1/4.
• C)the budget line will pivot inward toward the origin along the Y axis,with the slope changing from -1/2 to -1/4.
• D)the budget line will pivot inward toward the origin along the Y axis,with the slope changing from -1/4 to -1/2.

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Definitions:

Staffing

The process of hiring, positioning, and overseeing employees in an organization.

Sub-Contracting Levels

The degree to which a primary contractor delegates or outsources portions of a project or job to secondary contractors.

Intermediate-Range Plans

Planning activities that cover a time frame from 3 months to 1 year, focusing on allocations of resources and objectives in the medium term.

Perishable Inventory

Items in inventory that have a limited shelf life and therefore require more dynamic and sensitive handling, management, and forecasting strategies to minimize losses due to spoilage.