Statement 1: When evaluated in economic terms, a market with many customers with poor living standards will have a relatively big market. Statement 2: When evaluated in economic terms, a market having many customers with poor living standards will have a tiny market. Statement 3: A market with a significant number of consumers who have low living standards may indicate that their purchasing power is constrained. Statement 4: A market with a huge number of low-income consumers might indicate limitless purchasing power. Which of the following is true? Statements 2 and 3 are both true Statements 2 and 3 are both false Statements 1 and 4 are both false Only statement a is true Both options a and c are true what is the best answer?
Statement 1: When evaluated in economic terms, a market with many customers with poor living standards will have a relatively big market. Statement 2: When evaluated in economic terms, a market having many customers with poor living standards will have a tiny market. Statement 3: A market with a significant number of consumers who have low living standards may indicate that their purchasing power is constrained. Statement 4: A market with a huge number of low-income consumers might indicate limitless purchasing power. Which of the following is true? Statements 2 and 3 are both true Statements 2 and 3 are both false Statements 1 and 4 are both false Only statement a is true Both options a and c are true what is the best answer?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Statement 1: When evaluated in economic terms, a market with many customers with poor living standards will have a relatively big market.
Statement 2: When evaluated in economic terms, a market having many customers with poor living standards will have a tiny market.
Statement 3: A market with a significant number of consumers who have low living standards may indicate that their
Statement 4: A market with a huge number of low-income consumers might indicate limitless purchasing power.
Which of the following is true?
- Statements 2 and 3 are both true
- Statements 2 and 3 are both false
- Statements 1 and 4 are both false
- Only statement a is true
- Both options a and c are true
what is the best answer?
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