In the Hierarchy of Effects, an Increase in the Consumer's

question 304

Multiple Choice

In the hierarchy of effects, an increase in the consumer's desire to learn about some of the features of the product or brand is referred to as the ________ stage.

• A) adoption
• B) exploration
• C) awareness
• D) interest
• E) trial

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Definitions:

Cournot Duopolists

Two firms in a market where each firm decides on its output level assuming the output of the other firm is fixed, leading to a stable competition equilibrium.

Equilibrium Prices

The market price at which the supply of an item equals the demand for that item, leading to a stable market condition where there is no surplus or shortage.

Stackelberg Model

Oligopoly model in which one firm sets its output before other firms do.

Dominant Strategy

In game theory, a strategy that is the best choice for a player, regardless of what the other players choose.