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grandymaker [24]
3 years ago
8

Mia and Jack are two chocolate producers. Mia packs her chocolates in attractive boxes and charges slightly more than Jack does.

Despite her slightly higher prices, consumers are more attracted to Mia’s chocolates. What market structure does this situation represent? A. oligopoly B. monopolistic competition C. monopoly D. perfect competition
Business
1 answer:
Rama09 [41]3 years ago
6 0

The correct answer is B. Monopolistic competition

Explanation:

Monopolistic competition occurs when the producers of a product determine the price of it. Also, the products sold have differences, which means consumers do not consider one product can be substituted by another because the qualities, brand, appearance, etc. are different. This is the opposite of perfect competition, in which products are substitutes and price is determined by price and demand rather than producers.

Monopolistic competition occurs in the case presented because the chocolates sold by Jack are different from those sold by Mia, who uses attractive boxes. Also, due to this difference, Mia can set higher prices and still get more demand from consumers.

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Eddie Falco went to a grocery store to buy his favorite brand of ice cream. However, the store was temporarily out of that brand
arlik [135]

Answer:

limited problem solving

Explanation:

 Limited problem solving -

It refers to the process of buying certain goods and services , when the person have only limited knowledge about the product , is referred to as limited problem solving .

People having lack of knowledge may even end up buying the wrong product  .

Hence , from the given scenario of the question ,

The correct term is limited problem solving .

5 0
3 years ago
Unlike product, promotion, or place, price is the only part of the marketing mix
mario62 [17]
Yes, its is the only thing marketing mix does. 
4 0
3 years ago
Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future. Matthew eagerly accepts. Do they h
WINSTONCH [101]

Answer:

Probably not, because the terms are not definite.

Explanation:

A contract is considered to be valid when there is a written or expressed agreement for one party to deliver goods or services to another.

The terms are clearly stated. For example the price, time of sale, acceptance of price, and so on.

A valid contract has the following elements: offer, acceptance, agreement, and consideration.

In the given scenario where Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future and Matthew eagerly accepts. There is an agreement but there is no specific offer and consideration of price and also the time of transaction.

So the contract is probably not valid because terms are not clearly defined.

3 0
3 years ago
While it provides a more accurate assessment of an applicant's job-related personality characteristics, the ______ has been crit
Natalka [10]

Answer:

unstructured interview

Explanation:

Unstructured interview involves asking questions that are not pre-arranged beforehand. The interviewer asks questions at his discretion to find out job related traits in the applicant.

This approach however can lead to legal issues as the interviewer may not know the implication of asking some questions that are not legally accepted for interviews.

Unstructured interviews are usually informal and like an everyday conversation. Probe questions are used to open candidates up as much as possible.

3 0
3 years ago
If a monopolistically competitive firm raises its price, it a. loses all of its customers (sales drop to zero) as your answer lo
borishaifa [10]

Answer:

c. loses some, but not all, of its customers as your answer loses some, but not all, of its customers

Explanation:

In a monopolistically competitive product is a product that has competition in the market, but that are not quite the same product, meaning they can´t be exactly replaced by a cheaper or different brand, when a company like that rises its prices, it eventually ends up loosing some clients, but not all, because of the loyal clients and those that can´t or won´t change brands, a good example of a monopolistically competitive firm, would be Apple, which has a loyal base of costumers that eventhough prices of apple products have been rising are still loyal, they are loosing some customers to other brands but not all of them.

8 0
3 years ago
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