The First Step in Estimating Demand Is to Understand What

question 145

Multiple Choice

The first step in estimating demand is to understand what affects price sensitivity.Generally speaking,customers are most price sensitive to products that cost a lot or are ________.

• A) priced low to begin with
• B) low cost
• C) bought frequently
• D) bought infrequently
• E) none of the above

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Definitions:

Simplify Expression

The process of rewriting an expression in a simpler or more compact form without changing its value.

Square Root

A specific value that, when it is multiplied by itself, reproduces the initial figure.

Subtraction

A mathematical operation that represents the operation of removing objects from a collection.

Pendulum Clock

A clock that keeps time by using a swinging weight, or pendulum, as its timekeeping element.