At a Price of $4 in the Above Figure

question 178

Multiple Choice

At a price of $4 in the above figure,

• A) there is a shortage of 200 units.
• B) the quantity supplied is 400 units.
• C) there is a surplus of 200 units.
• D) the equilibrium quantity is 400 units.

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Definitions:

Customer Service

All of the activities a firm engages in to satisfy the needs and wants of its customers.

Trial Close

A sales technique where the salesperson asks the prospect a question or series of questions to gauge the prospect's readiness to buy.

Buyer's Readiness

The stages a potential customer goes through before deciding to purchase a product, including awareness, knowledge, liking, preference, conviction, and purchase.

Team Selling

A sales strategy where a group of individuals with different expertise collaborates to sell a product or service to better meet customer needs.