A Restaurant Uses Comment Cards to Get Feedback from Its

question 21

Multiple Choice

A restaurant uses comment cards to get feedback from its customers about newly added items
To the menu.It recently introduced homemade organic veggie burgers.Customers who tried
The new burger were asked if they would order it again.The data are summarized in the table
Below.What percentage of customers would definitely order the veggie burger again? $$\begin{array} { | l | l | } \hline \text { Response } & \text { Frequency } \\\hline \text { Definitely would. } & 10 \\\hline \text { Most likely would. } & 40 \\\hline \text { Maybe } & 12 \\\hline \text { Definitely would not. } & 3 \\\hline\end{array}$$

• A)10%
• B)15%
• C)20%
• D)40%

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Definitions:

Maximum Profits

The highest level of profit a firm can achieve when it operates at its most efficient production level and pricing strategy.

Price Discriminate

The practice of selling the same product or service at different prices to different customers, not based on differences in production costs.

Pure Monopolist

A single producer in a market who controls all supply of a product with no close substitutes, allowing them to exert significant power over prices and quantities sold.

Profit-Maximizing

A business strategy focused on finding the optimal level of output at which total revenues exceed total costs by the greatest amount.