For Years,a Local "Greasy Spoon" Diner Had Customers Lining Up

question 61

Multiple Choice

For years,a local "greasy spoon" diner had customers lining up around the building for breakfast.When the city announced that it was building an off ramp from the highway that would conceivably double his customer traffic,the proprietor was delighted.Having saved enough in previous years,he was certain it could hold him over through the three-month construction.Unfortunately,construction delays continued for an additional six months and the work is still in progress.The best pricing objective at this point for the diner's owner would most likely be __________.

• A)profit
• B)market share
• C)unit volume
• D)survival
• E)social responsibility

---

Definitions:

Society

A group of individuals living together in a more or less ordered community, sharing customs, laws, and organizations.

Opportunity Cost

The cost of foregoing the next most desirable choice when a decision is made.

Out-of-pocket Cost

Direct payments made by individuals for goods or services, not reimbursed by insurance or other means.

Marginal Cost

Marginal Cost is the cost incurred by producing one more unit of a product or service.