Use the Indifference Curves and the Budget Lines in Figure

question 117

Multiple Choice

Use the indifference curves and the budget lines in Figure 19.3 to answer the indicated question.Assume the price of Y is $1 per unit.In Figure 19.3, given an income of $30 and a price for good Y of $1, which of the following two points represent optimal consumption?

• A) A when the price of X is $3 and C when the price of X is $1.
• B) B when the price of X is $1 and D when the price of X is $3.
• C) A when the price of X is $1 and D when the price of X is $3.
• D) B when the price of X is $1 and C when the price of X is $3.

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Definitions:

Standardization

The process of making something conform to a standard in order to ensure consistency and interoperability across different platforms, products, or systems.

Multidomestic Strategy

A strategy that concentrates on the development of foreign markets by selling to foreign nationals.

Multinational Strategy

Standardizing the products and services around the world to gain efficiency.

Cross-Cultural Competencies

Skills and abilities that enable individuals to effectively operate and communicate in different cultural contexts.