If the Service Performance Is Much Better Than Pre-Purchase Expectations

question 3

Multiple Choice

If the service performance is much better than pre-purchase expectations then ________ will most likely result.

• A)dissatisfaction
• B)satisfaction
• C)evangelism
• D)delight
• E)both c and d

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Definitions:

Market Equilibrium

A situation in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price for the product or service.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, typically measured above the supply curve.

Well-Defined Property Rights

Legal parameters that establish ownership and delineate the use of resources or assets.

Mutually Beneficial Trades

Transactions between parties that improve the welfare of each participant.