A Problem a Salesperson Could Run into with Regard to Knowing

question 24

Multiple Choice

A problem a salesperson could run into with regard to knowing the product extensively is:

• A)relying on written proposals
• B)conducting a thorough presentation
• C)knowing more than other salespeople
• D)exhibiting a bad attitude at sales meetings
• E)misjudging the customer's product knowledge

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Definitions:

Implicit Costs

The opportunity costs that arise from using resources that a business already owns rather than earning revenue from those resources elsewhere.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity, such as wages, rent, and materials.

Economic Profits

Profits earned by a company after accounting for both explicit (direct) and implicit (opportunity) costs.

Marginal-Cost Curve

A graph that shows the relationship between the marginal cost of producing an additional unit and the total quantity of the product produced.