Answer:
C) stay the same; stay the same; increase
Explanation:
A monpolistically competitive market is a market where there are many buyers and sellers. It has both the features of a monopoly and perfect competition.
If in the short run, the fixed cost of a monpolistically competitive firm falls, the firm would not be able to make any adjustment to production because in the short run, some factors of production are fixed. So, price and output remains the same while economic profit increases due to a reduction in cost.
Economic profit = Accounting profit - Opportunity cost
The correct answer would be option B, Specialty Goods.
Keira is in the market for a type of goods with unique characteristics that appeals to a limited number of consumers and requires significant effort and money to purchase. Keira is most likely in the market for Specialty Goods.
Explanation:
There are products in the market that have certain characteristics that are appealing to a limited number of people. Such products require not only effort to purchase, but also a significant amount of money is needed.
Specialty products are usually high in price because of their unique characteristics, and that is why they are not easily available in the market as they are needed by a limited number of people.
Specialty products may include the following:
- Luxury Cars
- Luxury Clothing
- High Fashion Clothing
- Exotic Perfumes
- Professional Photographic Equipment, etc.
Learn more about Specialty Products at:
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Answer:
c. lifetime value of a customer
Explanation:
Based on the information provided within the question the term being described is called the lifetime value of a customer. Like mentioned in the question this term refers to a measurement used in business statistics in order to calculate the total revenue that a single customer account can bring to the business. Since they calculate profit, the company deducts what they are spending in order to acquire, market to, and service the customer from the benefits brought by the customer to the business.
Please see the complete question below.
"You never get a second chance to make a good first impression," captures the importance of the __________ step in the selling process.
(A) approach
(B) qualifying
(C) prospecting
(D) introduction
Answer:
The answer is approach (Option A)
Explanation:
The approach step is a vital step in the selling process in which a salesperson makes a call to, or visit a prospective customer for the first time. In other words, it is the step in which the sales person establishes a rapport with the prospective customer.
Thus, it is important that the salesperson makes a good first impression by presenting himself/herself in a professional manner, exhibit credibility as well as all other qualities need to start a good relationship with the prospective customer because first impression lasts long.
<h3>From the given scenario, it can be inferred that Hearthstone Electronics and Influx Electronics share differentiation parity.
</h3>
Explanation:
A business achieves differentiation of parity when it generates the same perceived value as its rival organization. A cost leader will achieve a competitive advantage as long as its generated economic value is greater than its competitors'.
The parity of differentiation deals with value and not with pricing. Parity to differentiation happens when a business generates the same value as its rival. Price parity means paying the same prices as a rival, with pricing involved.
