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liraira [26]
3 years ago
9

"Jason likes to drink a particular brand of soda and has been drinking that brand of soda for the last ten years. Lately, one of

the newer brands has been gaining popularity and he wants to give that brand a try. In the context of marketing and consumer behavior, this phenomenon is referred to as _____."
Business
1 answer:
Vedmedyk [2.9K]3 years ago
6 0

Answer:

<u>Variety seeking </u>

Explanation:

Variety seeking buying behavior refers to consumer behavior wherein, a consumer seeks different kinds of goods and substitutes and prefers variety rather than sticking to one particular product.

Variety seeking consumers don't mind switching from one product to another since they tend to get bored quickly by consuming the same product time and again. Such consumers lack product loyalty and don't forge high involvement or association with any product.

Such behavior is prominent in case of products which don't have significant differences in the quality.

In the given case, Jason has been drinking a particular soda brand for a considerable length of time. Yet, when a new brand emerges and gains popularity, for no valid reason he wants to give it a try. This behavior is variety seeking behavior.

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makvit [3.9K]

Occasionally, barriers to entry may lead to pure monopoly; in other market conditions, they may limit competition to a few oligopoly firms

<h3>Do barriers to entry exist in a pure monopoly?</h3>

Due to entrance restrictions that deter prospective rivals, firms acquire monopolistic power. Barriers to entry, or conditions that make it difficult or impossible for potential competitors to participate in the market, give monopolies their market strength.

The four main elements of monopoly are: (1) a single business controlling the entire output of a market; (2) a distinctive product; (3) barriers to admission and departure from the industry; and, frequently (4) specialised knowledge about production methods that are not available to other potential producers.

Learn more about monopoly refer

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4 0
2 years ago
Noah drinks Dr. Pepper. He can buy as many cans of Dr. Pepper as he wishes at a price of $0.50 per can. On a particular day, he
Nadusha1986 [10]

Answer:

$0.85 and three cans

Explanation:

Data given in the question

Price per can = $0.50

First can paying price = $0.95

Second can paying price = $0.80

Third can paying price = $0.60

Fourth can paying price = $0.40

So by considering the above information, the noah can buy three cans as the prices are high

So, the consumer surplus is

= First can + second can + third can

where,

First can = $0.95 - $0.50 = $0.45

Second can = $0.80 - $0.50 = $0.30

Third can = $0.60 - $0.50 = $0.10

So, the total consumer surplus is

= $0.45 + $0.30 + $0.10

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Answer:

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Explanation:

Coronado Industries

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Answer:

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Explanation:

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