Cause a sales representative to waste time and alienate people.
Who or what determines the buying decisions in a democratic buying center?
The person in the buying center ultimately decides whether to buy anything, what to buy, how to buy it, or where to buy it.
What is the 5 buying process?
There are five fundamental steps in the decision-making process for consumers. Consumers use this technique to weigh their options before making a purchase. Problem identification, information search, alternative assessment, buy decision, and post-purchase evaluation are the five steps.
What are the three stages of buying process?
Every potential customer goes through a buying process before selecting a product or service. Every buyer generally goes through the three primary processes of awareness, contemplation, and decision before becoming a customer.
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Answer:D) backward bending.
Explanation: Engel Curve is a curve developed based on the study on households expenditures and income by a German Statistical expert named Ernst Engel in the year 1857.
An Engel curve shows the relationship between demand for a good (on the horizontal or x-axis) and income level (on the vertical or y-axis). A normal good has a positive slope of curve is Positive,but if the slope of the curve is negative, the good is an inferior good.
THE CURVE FOR JOYCE AND LARRY AFTER THEY REDUCED THEIR HOME IMPROVEMENT SPENDING WILL HAVE A BACKWARD BENDING.
What is the topic about? I need more details.
Answer:
A) Lily, must sell a total of 800 plants to break even.
B) If Lily sells 480 units of both A and B she will have a net profit.
D) If Lily’s sales mix changes, her break-even point will stay the same.
Explanation:
break even point = total fixed costs / contribution margin
- total fixed costs = $24,000
- average contribution margin = $30 (same for both plants)
break even point in units = $24,000 / $30 = 800 units
current sales mix:
plants A = 800 units x 60% = 480 units
plants B = 800 units x 40% = 320 units
Answer:
(i) Option (A) is correct.
(ii) Option (A) is correct.
Explanation:
(i) Marginal revenue refers to the change in total revenue obtained from the sale of an extra unit of a commodity. It is calculated by differentiating total revenue with respect to output. It is shown as:
where,
TR = Total revenue
q = output
(ii) In a perfectly competitive market, price is equal to both average revenue and marginal revenue. Since, firms in a competitive market are not required to reduce the price of their product for selling more number of units. Hence, the average revenue remains the same at all the level of output. That's why average revenue in equal to the price under perfect market conditions.
Therefore, every additional unit of an output is sold at a same price, so the marginal revenue obtained from an extra unit is constant and hence, price is equal to the marginal revenue.