________ Are Consumer Products That the Consumer Either Does Not

question 47

Multiple Choice

________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.

• A) Specialty products
• B) Convenience products
• C) Unsought products
• D) Shopping products
• E) Capital items

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Definitions:

Marginal Benefit

The additional benefit or satisfaction experienced when consuming another unit of a good or service.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Optimal Level

The state or condition where the best possible outcome is achieved, given the current set of circumstances or resources.

Degree of Complementarity

The extent to which one good or service complements another, affecting their demand when their prices change.