The objective of test marketing is <span>to determine the reactions of potential customers in a market situation.
Businesses will often do test marketing before launching a product to see how potential customers will react if it were real. If they do a test with a test market and the product is a flop, it could show that in a real situation the products wouldn't sell.
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Answer:
Silent partner.
Explanation:
<u>Chloe is a </u><u>silent partner</u><u> in this vintage fashion boutique.</u> A silent partner or sleeping partner is that <u>who invest</u> in the business and have still<u> shares in the profits and losses </u>of the business, but who is <u>not involved in day-to-day business transactions</u> and in its management and his/her<u> personal property is not at risk</u> in case the business suffers losses as here Chloe and Tamara invested equally but Chloe is not taking part in the management of the business but still shares the profit and loss occurred but her personal property is not at risk<u> in case of firm's insolvency.</u>
A monopolist can produce at a constant average (and marginal<span>) </span>cost of<span> AC = MC = $5</span>
The answer to this question is :<span>decrease, increase
When Demand decreases, it indicates that consumer now is less willing to buy that certain products.
This unwillingness will started to drives the price down. During this period, Sellers will start to create more effort to sell the remaining products so they could obtain the highest price possible</span>
