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- Most transactions could be viewed as examples of asymmetric information since consumers typically have less information about a good or service than the producer. Because the consumer has less information than the producer, the consumer will tend to... Group of answer choices Buy more of the product than they would if they had all the information Buy less of the product than they would if they had all the information. Buy the same amount of the product that they would if they had all the information. Forgo all purchases and only buy goods and services when they have all the information about a product.Which of the different types of utility has to do with the value the consumer places on the service? Possession/Ownership Utility Form Utility Place Utility Service/Task UtilityThe maximum that a consumer is willing to pay for a product or service is called his/her
- Sales volume in most retail sectors is strongly correlated with population. Group of answer choices True False Flag question:The purpose of this miniproject is to increase your understand- ing of the process that consumers go through when making a purchase decision. First, select one of the following products (or some other product of your choice) that now, or in the future, you might be in the market for. • New or used car • Spring break vacation Apartment • Computer or smart phoneAn automobile manufacturer offers a vehicle health monitoring (VHM) service for its vehicles. The VHM service is offered at a monthly price of $5.99 with a contribution margin of 75%. For customers who buy a subscription to the VHM service when purchasing their car, the annual retention rate is 80%. For customers who subscribe to the VHM service later, the annual retention rate is 60%. Assume a monthly retention cost of $0.50 and an annual discount rate of 14%. What is the effective monthly retention rate for customers who subscribe when buying their vehicle? % What is the effective monthly retention rate for customers who subscribe later? % What is the effective discount rate per month? % What is the CLV of a customer who subscribes when buying their vehicle? $ What is the CLV of a customer who subscribes later? $
- eBay is the largest online auction site. Sellers pay a small fee to list their items, which can be soldat a fixed price or auctioned. Generally, the auction lasts several days, and the bidders submitelectronics bids. After the auction closes, the highest bidder receives an email and gets threebusiness days to contact the seller. eBay provides ratings on buyers and sellers based on theirpositive and negative comments. eBay has set up policies to guard against ‘feedbackmanipulation’ and ‘feedback abuse.’ eBay encouraged buyers to pay through ‘PayPal’ and‘PayPal’ provides $2000 free insurance in case the buyer doesn’t receive the product or the qualityof the product is poorer than expected. eBay’s safety staff investigates alleged misuses at eBay,such as fraud, trading offenses, and illegally listed items. A potential resolution is banning a sellerfrom future trading on eBay. 1. eBay claims that they have minor problems with fraud and misuse of the system. Does thisapplication…As the owner of a fast food restaurant with declining sales, your customers are looking for something new and exciting on the menu. Your market research indicates that they want a burger that is loaded with everything as long as it meets certain health requirements. Money is no object to them. Use Excel to answer this question Requirements: Must include at least one of each item and no more than six of each item Must use whole items (no half or partial servings) Final burger must contain no more than: 3,000 mg of sodium 50 g of fat 3,000 calories Must keep the servings of ketchup and lettuce the same Must keep the servings of pickles and tomatoes the same Must use exactly two buns a. What is the most expensive burger you can make that meets these requirements? b. What are the allocations of each ingredients.A producer is responsible for: Group of answer choices only one is correct Managing copyrights and legal ownership of the music Distributing and marketing the album to mass audiences Capturing sounds and manipulating the various elements of recording technology Orchestrating, arranging, and designing all the sounds on an album An engineer is responsible for: Group of answer choices Managing copyrights and legal ownership of the music Distributing and marketing the album to mass audiences Capturing sounds and manipulating the various elements of recording technology Orchestrating, arranging, and designing all the sounds on an album The requirements for a good high fidelity recording are the exact same as the requirements for a good live performance. Group of answer choices True False According to Turino, the primary values of Studio Art Musicians are: (select ALL that apply) Group of answer choices Encouraging opportunities for audience participation Absolute control over the musical…