Identify a true statement about ethics in marketing. Multiple Choice An aspect of consumer autonomy requires that customer consent be not only voluntary, but also informed. О It is easy to determine if potential consumers are being treated with respect in marketing situations. The existence of buyers for a product and sellers willing to sell that product implies that such transactions are ethically legitimate. Evidence shows that effective marketing causes greater consumption, leading to a happy condition termed "affluenza."
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- After a destructive hurricane in Southeast Texas, gasoline prices around the country increased dramatically. Demand did not decrease much primarily because O there is a long time period under consideration. O the cost of the product is a relatively small percentage of oncs income. O there are very few substitutes for the product. O there is a small amount of this product.A website offers a place for people to buy and sell emeralds, but information about emeralds can be quite imperfect. The website then enacts a rule that all sellers in the market must pay for two independent examinations of their emerald, which are available to the customer for inspection. How would you expect this improved information to affect demand for emeralds on this website? How would you expect this improved information to affect the quantity of high-quality emeralds sold on the website?Price P₁ 15 P 0 Price P₁ Po 0 (a) Perfectly Elastic A с (c) Relatively Inelastic D Quantity Quantity Price P Te 0 Price P₁ P₂ 0 (b) Relatively Elastic B D (d) Perfectly Inelastic D Quantity Quantity Which graph would describe the demand for Insulin [Select] Which graph would describe the demand for a $1 bill [Select] Which graph would describe the demand for gas [Select]
- Greentech- a high technological pharmaceutical company, has developed a clot-dissolving drug called TPA that will halt a heart attack in progress. TPA saves life, minimizes hospital stays, and reduces damage of the heart itself. It is priced at $ 2,200 per dose. What pricing approach does Greentech appear to be using? Is demand for this drug is likely to be elastic with price? Note: Please answer the question with points and exampleUrgent needed within 30minCikli is the manager of a firm that receives a revenue of RM3000per month from product X and RM7000 per month from productY. The price elasticity of demand for product X is -2.5 whenoriginal quantity (Q) for X and Y are 150 and 175 units,respectively and the cross price elasticity of demand betweenproduct X and Y is 1.1. If Cikli increases the price of good X by1%.a. How much will Cikli’s total revenue change for product X?b. How much is Cikli’s new total revenue for both of the products?The consumer purchase decision process typically begins with information search---resulting from the instantaneous receipt of incoming and unexpected marketing based stimuli. A True В False
- If Carmen's Coffee Company wants to increase total revenue and the price elasticity of demand is 0.43, the company should A) increase the price of its coffee. B) decrease the price of its coffee. c)keep the price constant since a price increase or decrease will cause total revenue to fall. d)advertise since this is the only option that will increase total revenue. urgent i will 5 upvotes.Consider the measurement of prices in the medical sector, where there is rapid innovation. Consider the case of a medical check-up for pregnant women. Assume that this service is privately provided. Suppose that a new ultrasound method is introduced. In the first year that this new method is available, half of doctors offer the new method and half offer the old method. Pregnant women frequent both doctors. A checkup using the new method costs 10% more than a check-up using the old one. 1. In percentage terms, how much of a quality increase does the new method represent compared to the old method? Now suppose that in addition, in the first year the new method is offered, the price of check- ups with the new method is 15% higher than the price of check-ups in the previous year (when everyone used the old method). 2. How much of the higher price of checkups using the new method reflects a true price increase and how much represents a quality increase? How much higher is the quality-…Which of the following types of healthcare services has demonstrated the greatest variability in demand over time? A. Inpatient discharges B. Physician visits C. Long-termcare services D. Cosmetic surgery
- Suppose you run a marketing survey and find you have two types of customers high-value customers willing to pay 16 and low-va consumers willing to pay just 10. Your survey tells you that there are equal numbers of high- and low- value customers. Obviously , have two possible options price high (16) and sell only to the high value group, or price low (10) and sell to everyoneThe costs incurred is 5 per unit and sales only happen to high -value consumers 50 % of the timeWhich price should you choose ? Select the correct response price high price low it depends price both high and lowDanny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2.25 each, he sells 250. At a price of $1.75 each, he sells 300. Instructions: Use the midpoint method and round your answer to two dcimal places. Do not include a negative sign (-). a. What is the elasticity of demand? 4 b. Is demand elastic or inelastic over this price range? Inelastic Elastic c. If demand had the same elasticity for a price decline from $1.75 to $1.25 as it does for the decline from $2.25 to $1.75, would cutting the price from $1.75 to $1.25 increase or decrease Danny's total revenue? OIncrease O DecreaseRefer to the accompanying figure. At P= 4, how does the price elasticity of demand for D1 compare to that for D2? Price ($) 16 14 4 12 10 。 10 8 6 4 2 D1 0 2 4 6 Multiple Choice D2 8 10 12 14 16 18 20 Quantity The price elasticity of demand for both D1 and D2 will be greater than one. It will be lower for D1 than D2. It will be greater for D1 than for D2. It will be equal for D1 and D2.