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What Category of Consumer Adopters Would Purchase a Product When

question 135

Essay

What category of consumer adopters would purchase a product when the product is no longer considered to be risky? Explain your answer.


Definitions:

Market Wage Rate

The prevailing rate of pay for a particular job in a specific market or geographical area.

Employ

To hire or use the services of someone or something for a particular purpose or job.

Profit-maximizing

The process by which a firm determines the price and output level that returns the maximum profit.

Labor

Labor is the effort that people contribute to the production of goods and services, measured in terms of time worked, skill level, and productivity.

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