The Following Two Statements Refer to the Types of Variables

question 4

Multiple Choice

The following two statements refer to the types of variables used in a segmentation study.
I.When conducting a segmentation study,demographics must always be used
As a classification variable.
II.When conducting a segmentation study,psychographics must always be used
As a descriptive variable.
Which,if any,of these statements is (are) true?

• A)I only
• B)II only
• C)I and II are both true
• D)Neither I nor II are true

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Definitions:

Pure Monopolist

A market structure in which a single company has exclusive control over the supply of a product or service, with no close substitutes.

Monopoly Profit

The excess earnings that a monopolist can secure over and above the earnings that could be achieved in a competitive market, due to the control over market prices.

Purely Monopolistic

A market structure in which a single company exclusively owns, produces, and sells a specific product or service, facing no competition.

Profit-Maximizing

A strategic goal of firms to achieve the highest possible profit by adjusting production volume, pricing, and other operational aspects.