Considering the scenerio about Judy and Amy are having lunch together and decide to split the bill equally. In this case, Amy is less price sensitive when sharing the cost.
What is price sensitivity?
Price sensitivity can be regarded as the degree to which demand changes as result if the changes in cost of a product or service changes.
It should be noted that Price sensitivity helps in measuring price elasticity of demand.
- And this rule implies that some consumers will refuse to pay more incase there there us availability of lower-priced option.
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Answer:
A company that is authorized by the commissioner to transact insurance business in Louisiana is called a <em>producer</em>.
Explanation:
According to the Louisiana Insurance Code, a <em>producer </em>is a person required to be licensed under the laws of Louisiana to sell, solicit, or negotiate insurance, and includes all persons or business entities otherwise referred to as insurance agent, insurance broker, insurance solicitor, or surplus lines broker.
Answer:
E) Trademark Dilution Act
Explanation:
The Trademark Dilution Act was passed by Congress in 1995 and it's sole purpose is to protect famous trademarks from similar imitations or copycats.
Long before this law was passed, famous trademarks like Coke had to sue imitators that tried to use similar names to market "alternative" products. For example, in 1920 Coca Cola (owner of Coke) sued Koke for trademark infringement and won.
The Trademark Dilution Act prohibits using trademarks and logos that are similar to famous trademarks because it dilutes their reputation and goodwill.
Answer:
Explanation:
When there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when the MPP of the first factor divided by its price is equal to the MPP of the second factor divided by its price.
The least cost rule evaluated two factors of production. Let's say labor and capital. production at least cost has the requirements that labor’s marginal product divided by its price is equal to capital’s marginal product divided by its price.
