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Pani-rosa [81]
3 years ago
10

Cloud Storage Solutions works closely with customers showing them early versions of its software and interface and then quickly

making changes based on customer feedback before soliciting feedback again. The company wants to fail early and often so that it quickly brings to market a product that meets customer needs. In this scenario, Cloud Storage Solutions is using:_______
Business
1 answer:
Mazyrski [523]3 years ago
7 0

Answer: Co-creation process.

Explanation:

A co-creation process is basically refers to the designing process various types of products and the services in an organization where the customer plays an important role in the form of input in the system.

The co-creation process majorly focuses on the consumer experience and the relationship with the customers.

The one of the main step that involve in the process of the co-creation process is that it select the best contribution from the users and then it used in the products and the services in an organization.  

According to the given scenario, the clod storage software is an organization that shows the early version of the software to the customer for make changes based on the users feedback.

Therefore, Clouds storage solution is using the co-creation process.

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If the demand for a steak is unit price elastic, then; Select one: a. the percentage change in quantity demanded is equal to the
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Answer:

The correct answer is option a.

Explanation:

The price elasticity of demand shows the responsiveness of quantity demanded to change in price. It is measured by the ratio of proportionate change in quantity demanded and proportionate change in price.

Unit price elastic means that the price elasticity of the good is 1. This implies that the percentage change in quantity demanded must be equal to the percentage change in price.

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3 years ago
The market for chewing gum is in equilibrium with a current price of 50 cents per pack and a quantity of 100,000 packs per day.
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Answer:

A) an increase in the price of other kinds of candy

Explanation:

If the price of substitute products (other types of candy) increases, then the suppliers of chewing gum can increase their price without the quantity demanded decreasing. If the decrease in the price of chewing gum is smaller than the increase in the price of substitute products, the quantity demanded will increase.

If there was a price increase of the main ingredients used to produce chewing gum, then the supply curve would shift to the left (option B is wrong).

If the workers signed an agreement that lowered their wages, then the supply curve would shift to the right (option C is wrong).

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A decrease in income would also decrease the quantity demanded, which would in turn decrease the equilibrium price (option E is wrong).

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It should be Option B since entrepreneurs main aim is usually profit making.
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