Answer:
one with few substitutes
Explanation:
The higher price markup, the higher the price, the higher the cost to consumers.
If a good has few substitutes, the demand for the good is less elastic. If price is increased, there would be little or no change in quantity demanded and the sellers profit would increase.
If a good has many substitutes, the demand for the good would be more elastic. If price is increased, Quanitity demanded would fall because consumers would shift to cheaper substitutes. Sellers profit would fall.
If demand is very elastic. It means quantity demanded is very sensitive to price. If price is increased, Quanitity demanded would fall by more than the increase in price. Sellers profit would fall.
I hope my answer helps you
Answer:
<em>B) contradicts the argument and finds that firms that successfully pursue cost leadership and product differentiation simultaneously can often expect to gain a sustained competitive advantage.</em>
Answer:
A) create greater efficiency in making goods available to target markets
Explanation:
While producers usually focus on getting raw materials at efficient cost and optimize the production process in a bid to stay profitable, intermediaries such as wholesalers and distributors are usually engaged to ensure that the products are properly distributed and available in the target market of consumers.
Intermediaries usually bring the goods from the producer to the consumer through the intermediaries distribution networks.
Answer
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
