A Leftward Shift of a Consumer's Budget Line to a Position

question 242

Multiple Choice

A leftward shift of a consumer's budget line to a position parallel with the original one could indicate that the:

• A)price of one product has decreased in relation to the other.
• B)prices of both products have decreased in the same proportion.
• C)marginal utilities derived from both products have decreased.
• D)consumer's money income has increased but the prices of both products have increased proportionately more.

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Definitions:

Balanced Scorecard

A system for planning and managing strategy that ensures business processes are in harmony with the organization's goals and vision, facilitates better communication within and outside the organization, and assesses how well the organization is achieving its strategic objectives.

Strategic Objective

A planned goal that an organization strives to achieve to guide its long-term plans and align its resources.

Performance Metrics

Quantitative measures used to evaluate, compare, and track performance or production across different periods or against specific objectives.

Performance Targets

Specific goals set by a company or individual to measure progress and achievement over a period.