Refer to the Following Passage to Answer the Questions That

question 73

Essay

Refer to the following passage to answer the questions that follow.
Talbots is a women's clothing store that sells only Talbots brand clothing.The style is fashionable,yet classic.It is relatively high-priced,but not priced at the level of designer clothing.Talbots has expanded its reach through the company's transactional website,and management is interested in getting more traffic to the site as well as using alternative media to reach the target market.
-How might Talbots use Twitter to achieve its goal?

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Definitions:

Opportunity Cost

The relinquishment of possible advantages from alternate options upon making a choice.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, measured by the area above the supply curve and below the price level.

Demand

The desire to purchase goods and services backed by the ability and willingness to pay a certain price.

Consumer Surplus

The gap between the total price consumers are ready and able to spend on a good or service and what they actually spend.