A New Startup Was Thinking of Offering Fruits and Vegetables

question 260

Multiple Choice

A new startup was thinking of offering fruits and vegetables directly from 'farm to front door' for all residents in British Columbia. In order to understand what individuals were interested in purchasing, how much they would purchase, and at what price, they conducted a mail-out survey to all residents. They plotted the information they received on a demand curve. This showed management at the startup anticipated:

• A)the total number of buyers for all products in a particular industry.
• B)a maximum number of products consumers will buy at a given price.
• C)the total sales for specified product lines, usually over a three-year-period.
• D)marginal revenue obtained under specified customer demand conditions.

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Definitions:

Priming

The process by which recent experiences increase the accessibility of a schema, trait, or concept, influencing responses.

Weber's Law

A principle in psychology stating that the smallest perceptible change in a stimulus is proportional to the magnitude of the original stimulus.

Subliminal Audio

Audio stimuli played below the conscious threshold of hearing, designed to influence behavior or emotions without the listener's conscious awareness.

Sensory Transduction

The conversion of a sensory signal from the environment into an electrical signal in the nervous system.