Answer:
This firm's <u>Shut down price</u>, That is, the price below which it is optimal for the firm to shut down is <u>$40</u>.
Explanation:
Shut down point is the point at which a firm or business is not able to gain any profit or benefit from the operations. Firm try to stay in the market until they reach the shut down point in business. It is a point where a business revenue just covers the variable expenses.
Answer:
B) always downward sloping.
Explanation:
The demand curve for normal goods is always downward sloping because of a combination of three factors:
- the purchasing power of the customers decrease and if the price of a product increases, consumers will be able to buy less even if they don't want to
- consumer surplus decreases since the difference between how much a consumer is wiling to pay for the good and its actual price decreases or even becomes negative, so they will not be willing to purchase it
- as the price of normal goods increases, consumers will tend to increase the quantity demanded for substitute products
The most likely result is that there would be a general mistrust because they are disregarding what you need.
Answer: Purchasing a diamond represents <u>Extensive problem solving </u>because consumeres buy diamonds infrequently and have no estabilished criteria for evaluating them
Explanation:
<u>Extensive problem solving is </u>the process of a customer trying to get all the information they need in order to be able to buy a product . This is likely to occur when the customer is purchasing a product that they have not bought before.
Answer:
Marketing mix
Explanation:
The marketing mix is a combination of product, price, place, and promotion. The marketing mix is also called 4Ps. These factors determine the marketing strategy through which they get to know their position in the market.
The price is the value which is given to the customers
The product is the item which is to be shown to the customers
The place is the location in which the product is sold to the customers
And the last is a promotion in which the product is communicated to the end numbers of people either by word of mouth, by adverting, etc
