In a Feedback Loop, a Response Refers to

question 65

Multiple Choice

In a feedback loop, a response refers to

• A) the number of times a consumer must hear a message before it can be accurately decoded.
• B) the impact the message had on the receiver's knowledge, attitude, or behaviors during the communications process.
• C) the positive or negative feedback that a consumer expresses immediately after exposure to a company's message.
• D) the impact, either positive or negative, that occurs when one consumer interprets a firm's message through word of mouth to another potential consumer using his or her own words.
• E) the length of time required for a typical customer to associate a specific slogan, theme, melody, or logo with a specific product brand.

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Definitions:

Market Price

The present cost at which a service or asset is available for purchase or sale on the market.

Marginal Cost

The financial outlay for creating an additional unit of a good or service.

Supply Curve

The supply curve is a graphical representation that shows the relationship between the price of a good and the quantity of the good that producers are willing to supply.

Zero Economic Profit

A situation where a firm's total revenues are exactly equal to its total costs, including opportunity costs, typically occurring in perfect competition in the long run.