<span>Products that customers consider essentials or necessities tend to have less elasticity than products viewed as luxury or discretionary. If a customer believes he needs a certain product for survival, quality of life, or pleasure, he is more likely to stretch a bit to purchase the item if the price goes up. On the contrary, a product viewed as optional is a less likely purchase as the price increases because the customer believes he can live without it.Customer OptionsThe more options a customer has to meet a particular functional or emotional need, the more elastic a product's demand. This is why a company with a monopoly has a huge advantage. Customers don't have options and feel compelled to buy from the given provider. In highly competitive industries, price differentials are usually less among competing brands because of the ability customers have to select lower-priced alternatives. A closely related factor is the cost of switching brands. Cell phone customers often wait to change providers to avoid penalties if they are obligated to service contracts.
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Answer:
it depends upon our coming up with the right explanation as one of the candidates
Explanation:
Inference to the best explanation is a term generally in logic or philosophy, which describes a form of inductive reasoning where by individuals draw from the premises about an incident to an explanation for that particular incident.
This explanation is often a claim or reason given, as to why the incident is the way it is. For example: in the occurrence of a particular phenomenon named to be A. Premises B provides the best explanation for A. Therefore, it is most likely that B is true, even though there is no certainty or guarantee of its truth.
Hence, a limitation of inferences to the best explanation is that, "it depends upon our coming up with the right explanation as one of the candidates."
Answer:
Explanation:
Joker would be characterized as a narcissistic psychopath.
Answer:
Its insurance
Explanation:
It's so if something ever happens to them they get to choose where all their stuff goes.
