On a Graph We Draw a Consumer's Budget Constraint, Measuring

question 553

Multiple Choice

On a graph we draw a consumer's budget constraint, measuring the number of pineapples on the horizontal axis and the number of pencils on the vertical axis. If the slope of the budget constraint is -6, then

• A)a pineapple costs six times as much as a pencil.
• B)the opportunity cost of a pineapple is 6 pencils.
• C)the opportunity cost of a pencil is one-sixth of a pineapple.
• D)All of the above are correct.

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Definitions:

Product Penetration

Product Penetration is the extent to which a product is recognized and bought by customers in a particular market.

Strategic Marketing Process

A systematic approach to planning, executing, and monitoring marketing strategies to achieve business goals and satisfy consumer needs.

Marketing Resources

Assets utilized by a company to effectively market its products or services, including human resources, technology, and financial investments.

BCG Growth-Share Matrix

A strategic business tool used to evaluate a company's product portfolio decisions, involving categorization into four quadrants.