Answer:
Locking in customers.
Explanation:
July Networks is locking in customers for the next two years by telling them to subscribe with July Networks. This will keep these customers loyal to them for two years, during which they can further implement retention strategies to keep the customers with them more than two years.
This is a good business strategy and customers are attracted to subscribe because of the cutting edge television technology that is being provided by July Networks.
Answer:
Monopolist can charge a higher price from women.
Explanation:
A monopolist is producing 100,000 units of a product.
The price of the product is $5 per unit.
The price elasticity of demand for men at this price is -3.5.
The price elasticity for women, on the other hand, is -0.8.
This means that the men have a relatively elastic demand for the product. While on the other hand, women have relatively inelastic demand. This implies that if the price is increased the demand from women will not change by a greater proportion.
While demand from men can change to a greater proportion because of a change in price.
In this situation, the firm can charge a higher price from women. This is an example of third-degree price discrimination.
Answer:
An example of a situation in which there could be a conflict of interest between an IT consultant’s self-interest and the interests of a client is a delay in duration for completion of a project.
This potential conflict can be addressed by providing a report of activities that have ensued within the time lapse and give reasons for extension of time.
Explanation:
An IT consultant saddled with the responsibility of developing a website for a client could have a disagreement with the client if he does not deliver on the job as at when due.
This could be due to his inability to concentrate on the project as a result of other personal engagements he has which could make him earn more.
To assuage his client's disapproval, he can present a detailed report showcasing the progress on the project and estimate an additional time to complete it.
He must be calm and courteous in his approach no matter how infuriated his client is.
Answer:
a
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