This is an example of test marketing. Producers will give a sample of their products to consumers and ask which ones they prefer and why. It is conducted very much like an experiment with a control group and an experiment group. Test marketing is a tool used by the companies to check the viability of their new product or a marketing campaign before it is being launched in the market on a large scale.
Answer:
Instructions are listed below
Explanation:
Giving the following information:
For each of the following, indicate the possible effects on demand, supply, or both as well as equilibrium price and quantity of chocolate ice cream.
a. A severe drought in the Midwest causes dairy farmers to reduce the number of milk-producing cattle in their herds by a third. These dairy farmers supply cream that is used to manufacture chocolate ice cream.
Demand: decreases (because of the higher price)
Supply: restrains.
Equilibrium price: rises
Equilibrium quantity: decreases
b. A new report by the American Medical Association reveals that chocolate does, in fact, have significant health benefits.
Demand: increases
Supply: increases
Equilibrium price: rise
Equilibrium quantity: increases
c. The discovery of cheaper synthetic vanilla flavoring lowers the price of vanilla ice cream.
Demand: decreases
Supply: decreases
Equilibrium price: decrease
Equilibrium quantity: decrease
d. New technology for mixing and freezing ice cream lowers manufacturers' costs of producing chocolate ice cream.
Demand: remains
Supply: increase
Equilibrium price:
Equilibrium quantity:
Answer:
Information granularities
Explanation:
Information granularities refers to the level of detail used in modelling of situations or straight decision making process.
It also refers to the extent of detail within the information (fine and detailed or coarse & abstract).
1. Find 4% of 3800: 152
2. 3800-152
3. James will have $3648 available for the down payment after the 5 years.
Joe is likely experiencing job burnout. Job burnout is a kind of stress in which an individual could experience in their jobs. This could affect the person's physical, mental or emotional state or which all of them may be affected. This will likely affect an individual's competency in his or her work as well as having doubts about whether he or she is doing the best that he or she could do.