Answer:
increase the price of our products or services.
Explanation:
When the price elasticity is less than 1 (inelastic), then an increase in the price of our products or services will result in a proportionally smaller decrease in the quantity demanded. Therefore, by increasing our prices, we can increase total revenue even if the quantity demanded decreases a little.
There is more drama involved in unmet expectations.
The reason why customers are more likely to tell their friends about negative experiences with companies than positive ones is that humans often remember the hateful things said than the nice things
Also, when customers are satisfied with one's service, they rarely tell others. whereas an unsatisfied customer would tell others about his or her bad experience due to unmet expectations.
Logically, customers would have bigger impressions in their mind when they have bad experiences reason companies work on strengthening and improving their customer experience team.
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The answer to the blank provided in the question "<span>Nike _________________ its products in foreign countries, where labor is cheap and production sites are owned by other companies. this strategy allows nike to experiment in new markets without incurring large start-up costs involved with building their own production facilities." is Contract Manufactures.</span>
Answer:
d. classify firms according to their number of customers
Explanation:
Since Dion wants to market his services to these car firms, he should consult for data that can be used to classify firms according to the customers that they have.
It has been stated clearly that people have to drive to Lubbock dallas, or Austin to get their cars serviced, so the firms can beclassified according to the number of customers.
Answer:
D) When price is lowered to sell one more unit, the lower price results in a revenue loss and the increased quantity sold results in a revenue gain.
- When you offer a sales discount, you are losing revenue since marginal revenue is lower than price, but at the same time if the marginal revenue is ≥ to marginal cost, then your profit and total revenue is increasing.
Explanation:
the other statements are false because:
- A. Marginal revenue equals total revenue divided by quantity sold. FALSE, MARGINAL REVENUE IS THE REVENUE GENERATED BY SELLING ONE ADDITIONAL UNIT.
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B. For a monopoly, marginal revenue equals price. FALSE, FOR A MONOPOLY MARGINAL REVENUE IS LOWER THAN PRICE.
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C. For a monopoly, total revenue equals marginal revenue multiplied by the quantity sold. FALSE, TOTAL REVENUE = PRICE X QUANTITY SOLD