Answer:
A. the value the consumer gets from buying a product less its price.
Explanation:
The consumer surplus refers to the benefit a consumer receives when they pay a lower price for a product than the one they were willing to pay. It is calculated by subtracting the price a consumer paid for a product from the maximum price that they were willing to pay. According to this, the answer is that the consumer surplus can be defined as the value the consumer gets from buying a product less its price.
Knowledge management is the technique that is used to improve customer relationship by storing and disseminating facts.
Knowledge management can be described as the use of different techniques to create and share knowledge in an organization.
It is a multiple approach way that organizations use to attain their objectives through the best use of knowledge.
It is very important to the organization because it helps to:
- Increase efficiency
- Raise productivity
- Keep critical information in the organization.
Read more on customer relationship management: brainly.com/question/25656282?referrer=searchResults
Answer:
A reasonable mitigation of damages.
Explanation:
Chef Noble breached the contract with farmer Elvin, and therefore, farmer Elvin is entitled to sue chef noble and seek compensatory damages for the money that he might have lost due to this contract breach. But it is reasonable for farmer Elvin to try to lower the damages suffered by selling the potatoes to other clients even if these clients do not pay the normal contract price for the merchandise. In the event of a lawsuit, this action will even benefit chef Noble since the damages will be smaller and the court will probably require him to pay a lower amount of money.
