Recently,Lisa's Wealth Increased by $500

question 117

Multiple Choice

Recently,Lisa's wealth increased by $500.If her wealth were to increase by another $500 in the near future,then her utility would increase,but not by as much as it increased with the recent increase to her wealth.Based on this information,Lisa's utility function

• A)and marginal utility function are both upward sloping.
• B)and marginal utility function are both downward sloping.
• C)is upward sloping and her marginal utility function is downward sloping.
• D)is downward sloping and her marginal utility function is upward sloping.

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Definitions:

Sales Budget

A detailed schedule showing expected sales expressed in both dollars and units.

Credit Sales

Sales made on credit, where payment is received after the goods or services are delivered.

Cash Sales

Transactions where the purchase of goods or services is paid for with cash at the time of sale.

Sales Forecast

The process of estimating future sales, helping businesses make informed procurement, production, and marketing decisions.