QUESTION 6 The diagram attached shows a consumer's indifference curves and budget lines, what might cause a consumer to move from point a to point b, and how will their utility change? Indifference curves and budget lines.pdf O a. An increase in income, they will have higher utility O b.A reduction in income, they will have lower utility O C. A reduction in the price of X relative to Y, they will have lower utility O d.A reduction in the price of Y relative to X, they will have higher utility

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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q.6
8:02 PM Mon 9 May
AA
learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn.com
G current account of the balance of payments - Google Search
Content
E B learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn.
Y
Transcribed Image Text:8:02 PM Mon 9 May AA learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn.com G current account of the balance of payments - Google Search Content E B learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn. Y
8:01 PM Mon 9 May
AA
bb.reading.ac.uk A
G current accour
B learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn..
Content
* Question Completion Status:
B
QUESTION 6
The diagram attached shows a consumer's indifference curves and budget lines, what might cause.
their utility change?
consumer to move from point a to point b, and how will
Indifference curves and budget lines.pdf
O a. An increase in income, they will have higher utility
O b. A reduction in income, they will have lower utility
O C. A reduction in the price of X relative to Y, they will have lower utility
O d. A reduction in the price of Y relative to X, they will have higher utility
QUESTION 7
What name is given to a merger between two firms in different industries?
O a. Horizontal
O b. Vertical
O C. Conglomerate
Od. Takeover
QUESTION 8
X and Y are complementary goods. When the price of X is £5, consumers buy 1000 units of X, but when the price of X goes up to £7 they buy 500 units.
Transcribed Image Text:8:01 PM Mon 9 May AA bb.reading.ac.uk A G current accour B learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn.. Content * Question Completion Status: B QUESTION 6 The diagram attached shows a consumer's indifference curves and budget lines, what might cause. their utility change? consumer to move from point a to point b, and how will Indifference curves and budget lines.pdf O a. An increase in income, they will have higher utility O b. A reduction in income, they will have lower utility O C. A reduction in the price of X relative to Y, they will have lower utility O d. A reduction in the price of Y relative to X, they will have higher utility QUESTION 7 What name is given to a merger between two firms in different industries? O a. Horizontal O b. Vertical O C. Conglomerate Od. Takeover QUESTION 8 X and Y are complementary goods. When the price of X is £5, consumers buy 1000 units of X, but when the price of X goes up to £7 they buy 500 units.
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