Last semester, Brita bought her textbooks over the Internet and saved a considerable amount of money. Classes start in a few days, and she needs to decide right away how and where to purchase her books. Brita will most likely engage in "limited problem solving" process.
<h3>What is limited problem solving process?</h3>
Limited issue solving is another sort of consumer problem-solving that consumers employ when they need information about unknown brands in well-known product categories or when they make sporadic purchases of goods; it takes a fair amount of time for information collecting and consideration.
The characteristics of limit solving process are-
- Limited issue solving is employed when consumers seek information about a new brand within a well-known product category or when they occasionally purchase products.
- When buying a new, expensive, or infrequently purchased goods, consumers engage in lengthy problem solving.
- Possibly when you need to find out information about an unusual brand in a well-known product area, takes a fair amount of time to gather information.
- Clothing is one example where it is known the product class but not the brand.
Therefore, in the given case- Brita lacks the time to thoroughly consider all of his alternatives. Additionally, he will likely follow suit this time around given his recent success purchasing books online (unless he waited too long and cannot receive his books in time).
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Answer:
1,300 units
$1,950
Explanation:
The computation of margin of safety in units is given below :-
Margin of safety in units = Budgeted sales in units - Break-even sales in units
= 4,300 units - 3,000 units
= 1,300 units
The computation in dollars of safety is given below :-
Margin of safety in dollars = Margin of safety in units × Selling per unit
= 1,300 × $1.50
= $1,950
Studies of bias in the media have reached different conclusions: some found a liberal bias, while others found a conservative bias. The correct answer is option(a).
Bias is an unequal burden friendly or against a plan or thing, normally in a habit that is to say stubborn, undermining, or prejudiced. Biases may be native or learned. People concede the possibility cultivate biases for or against an individual, a group, or an assumption. In learning and metallurgy, a bias is an orderly mistake.
Three types of bias may be distinguished: news bias, option bias, and confusion. These three types of bias and their potential answers are debated utilizing differing instances. In cognitive attitude and conclusion wisdom, orthodoxy or conservative bias is a bias that refers to the bias to correct one's faith barely when bestowed accompanying new evidence.
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a. When the forces of supply and demand lead to an inefficient outcome: economists call this a market failure.
<h3>What is meant by market failure?</h3>
This is the term that has to do with the state where the market that is an economy can be said to not be working.
b. The question in this category needs us to be able to fill in the details from the question into the empty boxes. Therefore:
For the efficient box
- a market in which economic surplus is maximized
For the inefficient box:
- a market transaction in which buyers or sellers behave irrationally
- a market transaction in which one party has information not available to other party
- a market dominated by few powerful businesses
- a market in which government regulation creates distortions
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