Which of the Following Groups Is Most Likely to Respond

question 83

Multiple Choice

Which of the following groups is most likely to respond to advertisements placed through social media?

• A) Generation X
• B) Generation Y
• C) retirees
• D) baby boomers

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Definitions:

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices to different buyers.

Elasticities of Demand

Measures of how responsive the quantity demanded of a good or service is to a change in its price, income levels, or other factors.

Price Discriminate

The practice of selling the same product or service at different prices to different customers, based on the willingness or ability of the customers to pay.

Marginal Revenue Curve

A graph that shows the change in total revenue resulting from selling one additional unit of a product or service.