A Typical Positioning Map Compares Services or Service Providers Based

question 47

Multiple Choice

A typical positioning map compares services or service providers based on perceptions of _____________.

• A)one attribute
• B)two attributes
• C)three to five attributes
• D)ten or more attributes
• E)all service attributes that customers value

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, leading to market equilibrium.

Equilibrium Quantity

The quantity of goods or services supplied and the quantity demanded at which their price is stable, and there is no tendency for it to change unless external factors intervene.

Allocative Efficiency

A state of resource allocation where resources are distributed in accordance with consumer preferences, maximizing overall utility.

Equilibrium Price

The price at which the quantity of a product demanded by consumers equals the quantity supplied by producers, resulting in market balance.