A major distinguishing characteristic of consumer convenience products is that O the consumer is willing to make a special effort to buy them. O they are often costly and bear well-known brand names. the consumer usually does a great deal of comparative shopping prior to making the purchase. the products are usually exclusive brands and have full warranties. O they are usually inexpensive and available in many locations.

Q: The cost of a gizmo has gone up. Which of the following would indicate that there would be a good…

A: The length of time has a big impact on how elastic the demand is. Long-term customers have the…

Q: Which drug type is expected to have a higher markup over cost? Brand name drugs Both have about the…

A: Mark up is the profit margin that the producers set above the costs .

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A: Price elasticity of supply measures the degree of responsiveness of supply with respect to change in…

Q: When the FDA lifted restrictions of TV advertisements for prescription medication in 1997, How has…

A: The objective of the question is to understand the impact of the FDA's decision to lift restrictions…

Q: When a walk-in clinic spent $5,000 a year on newspaper advertising, it saw 5,000 patients a year.…

A: Answer: Given, Initial spending on advertising = $5,000 New spending on advertising = $7,500 Initial…

Q: In 2019, a ski resort increased the prices it charged for one-day ski passes and season passes. If…

A: Total Revenue is the product of price and quantity  Elasticity measures the change in quantity due…

Q: Elasticity is expressed in both positive and negative values   True  False

A: Elasticity is a measure of the responsiveness of one economic variable to a change in another…

Q: If you want to increase demand for your restaurantbut are unable to lower prices or increase…

A: As it is given in the question, a restaurant does  not have more funds to advertise higher level and…

Q: Suppose that the demand for a new soft drink is given by a nonlinear demand function: Q(P, A) = P¹/2…

A:

Q: What are the advantages of personal selling over otherforms of customer communication?

A: Personal selling: personal selling is where the business use sales force people to sell the products…

Q: None

A: Consumerism refers to all activities undertaken to protect the rights of consumers. It involves…

Q: Write a brief note on the behavior of the Muslim consumer.

A: Consumer behavior is the concept that describes the behavior of an individual or group of customers…

Q: Draw a curve that shows the relationship between quantity and total revenue when the demand curve…

A: Given that the demand curve is linear so liner demand equation will be P=a-bQ      where a, b is…

Q: ELASTICITY -What type of elasticity occurs and what is the financial result if: • The elasticity is…

A: When the value of elasticity is less than 1, elasticity is said to be inelastic.

Q: Based on a retail store that sells clothing for the age between 8 and 40 years .   Describe the…

A: Price: It refers to the cost of goods and services present in the market. Price is the rate at which…

Q: Discuss an elastic and inelastic product. Why do you feel these products are elastic? inelastic? Are…

A: The degree of response exhibited by a dependent variable towards the independent variable is known…

Q: is folding bike priced at $800 - $1000 considered elastic or inelastic? For comparison, other bikes…

A: Folding bikes are considered elastic.

Q: Differentiate between utlilty,stisfaction,value and price

A: The study of Economics deals with the allocation of goods and services so as to satisfy maximum…

Q: Who does elasticity matter to the most? The government, the firm/business, or the…

A: The change in behavior of buyers and sellers with changing price is explained by the term…

Q: Analyse the determinants of demand for cars in the Malaysian market.

A:

Q: When a media company promotes itself as reaching a particular demographic, how should we use that…

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Q: Why is price stability difficult to achieve inonline and global marketing?

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Q: Define substitute and complementary goods.    Explain it in easy word without plagiarism

A:

Q: Advertising is a personal means and is different from personal selling, is it different? true Frror

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Q: If Carmen's Coffee Company wants to increase total revenue and the price elasticity of demand is…

A: Introduction : Demand elasticity consists of the degree to which goods' quantity demanded changes on…

Q: Give examples of tactics practiced by a buyer or seller that might be consideredunethical.

A: Unethical tactics are the one which is not considered right for an individual or an industry.…

Q: Why would a healthcare manager ever want to price discriminate?

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Q: What are concerns that some people have with the use of consumer decision nudges by governments?

A: The study of consumer behavior explains how individuals choose what products and services to buy,…

Q: In market for sunscreen, the price rise by 32% and the quantity falls by 86% Calculate elasticity…

A: The information being given is:- Percentage rise in price = 32% Percentage fall in quantity demanded…

Q: o you agree that discounts represent the best policy for attracting customers?

A: A sales discount, also widely referred to as just a 'discount,' gives a company's customers a…

Q: A good with elasticity of demand greater than 1 has high elasticity True/False

A: Elasticity of demand measures the responsiveness of change in quantity demanded due to change in…

Q: QUESTION 14 Explain the concept of supplier-induced demand (SID). What is it? For the toolbar, press…

A: Answer: Supplier-induced demand: supplier-induced demand arises due to the asymmetric information…

Q: why does personal matter trip/travel has a high transport cost elasticity?

A: When talking about elasticity, it is the economic concept that is used to explain the responsiveness…

Q: Demand curve of electric vehicles versus gas vehicles

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Q: Joe initially charged $180 for a electronic product and averaged 20 clients per week. When he raised…

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Q: What are the consequences of reduced publicfunding?

A: Public funds are collected through the public by means of taxes, interests, fees, etc. These funds…

Q: Which of the following best describes why the Hours of Service Regulations were put into place? O To…

A: The driver test is important to ensure the safety of peope with having the all relevant information.…

Q: Is alcohol more elastic than hard seltzer

A: Price elasticity of demand measures the responsiveness of change in quantity demand to change in…