Which of the Following Will Cause a Decrease in Consumer

question 42

Multiple Choice

Which of the following will cause a decrease in consumer surplus?

• A)An increase in the production cost of the good
• B)The imposition of a binding price floor in the market
• C)A decrease in the number of sellers of the good
• D)A technological improvement in the production of the good

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Definitions:

Consultative Selling

A sales technique where the salesperson acts as an advisor, understanding client needs and recommending solutions accordingly.

Close-Ended

Pertaining to questions or options that limit responses to a set of choices, offering no opportunity for open-ended answers.

Sales Call Planning

The process of organizing and preparing objectives, strategies, and key points to discuss during a sales call to maximize the likelihood of a successful outcome.

Customer Profile

A detailed description of a business's typical customer, including demographic, psychographic, and behavioral traits.