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- . Do you consider yourself a member of any brand communities (formal or informal)? If so, what effect do these groups have on your purchasing behavior?1QUESTION 1 McDonald's developed a vegetarian burger in India. This is an example of: O A. Market Penetration. O B. Product Development. OC. Global Marketing. O D. Market Diversification. O E. Market Development. QUESTION 2 The essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as: O A. Value = Price/Benefits. O B. Value = Benefits + Price. OC. Value = Benefits - Price. O D. Value = Benefits Price. O E. Value = Benefits x Price. QUESTION 3 Which of the following shows the correct order of the product adoption process? O A. trial-interest-evaluation-awareness-adoption O B. awareness-interest-evaluation-trial-adoption O C.adoptionevaluation-trial-interest--awareness O D. interest-awareness-adoption-trial evaluation O E. evaluation-trial-awareness-→interest-adoption
- If a firm charges a lower price they will have a lower profit margin but a higher profit; if a firm charges a higher price they will have a higher profit margin but a lower profit. Which of the following statements is accurate? A. The firm should charge a lower price for the higher profit. B. The firm should a higher price for the lower profit. C. The firm should charge a higher price for the higher profit margin. D. Whether the firm should charge a higher price or lower price indeterminate.2. Suppose that a market consists of 650 idetical fims, all with the same cost curve: TC(q) = 325q² + 0.3. The market demand is given by Qd(p) = 50 – p (a) What is the equilibriun price and quantity? (b) What quantity must each firm produce and sell at equilibrium? (c) Do fims make positive profits in the market equilibrium? (d) Calculate consumers' surplus, producers' surplus and total surplus. (e) The government imposes a tax of 12 per unit of the product on the suppliers. What will be the new equilibrium price and quantity? (f) Do firms make positive profits at market equilibrium? (g) What will be the new consumes surplus, produces surplus and total surplus? (h) Calculate the value of the DWL imposed by the tax.The closer a market's Herfindahl - Hirschman Index (HHI) is to there are firms in the market. A. 100; many B. 10,000; few C. 100; few D. 10,000; many the less competitive the market, which means
- First option is "more" or "less" Second option is "producing more jackfruit and earning positive profit" or "producing the same amount of jackfruit and running at loss" or "entering the industry" or producing the same amount of jackfruit and eanring positive profit" or "producing less jackfruit and running at loss" or "exiting the industry" Third option is "producing more jackfruit and earning positive profit" or "producing more jackfruit and running at loss" or "entering the industry" or producing less jackfruit and eanring positive profit" or "producing less jackfruit and running at loss" or "exiting the industry" Fourth option is "new technologies are discovered that lower costs" or "each firm in the industry is once again earning zero profit" or "consumer demand returns to its orignial level" or jackfruit populations grow large enough to support more firms" Fifth option is "upward sloping" or "downard sloping" or "horizontal" or "vertical"The two characteristics of a competitive market are 1) many buyers and sellers in the market and 2) the goods offered by the various sellers are highly differentiated. O True False1. Demand and Costs. Assume you are faced with the following demand curve,P = 20-0.5QWhere P is the dollar price per unit and Q is the number of units sold per month, and Q must be2 or more.a. Write the expression (definition) for this firm’s Total Revenue (TR)b. Write the expression for this firm’s marginal revenue (MR).c. What is Q when the P is zero?d. What is P when the Q is zero?e. Profit maximization occurs where MR=MC. If MC=$10 what is the profit maximizing levelof Q and P?f. As a business owner, you are thinking about lowering the price of this product. If youlower the price by 10% from your answer in e., will your TR rise or fall?
- 1. Consider two companies involved in the supply chain: a retailer who faces customer demand and a manufacturer who produces and sells ski jackets to the retailer. It costs the manufacturer $30 to manufacture and ship each ski jacket. The retailer plans to sell the ski jacket for $300. At this price, demand for the ski jackets is estimated to be 10000 units with a 20 percent chance of happening, 9000 units with a 40 percent chance of happening, and 8000 units with a 40 percent chance of happening. Any ski jacket not sold during the ski season is sold to a discount store for $20. We refer to this value as the salvage value. Both the manufacturer and the retailer can sell the ski jackets they still have on hand after season for this salvage value. (a) Suppose the manufacturer sells to the retailer at $80/unit. How many ski jackets should the retailer order? How much profit does the retailer expect to make as a result? How much profit will the manufacturer make as a result? (b)What is the…Building a positive corporate image and handling or avoiding unfavorable rumors, reports, and incidents are all part of sales promotion. Select one: O True FalseSolve for the missing items in the table. Use the space provided for your answer and complete solution