Suppose the Demand for Fabric Softener Can Be Described as Q^D

question 35

Multiple Choice

Suppose the demand for fabric softener can be described as Q^D = 1,000 - P +0.01I, where Q^D is the quantity of fabric softener demanded, P is the price of fabric softener, and I is income. Suppose that income is initially 1,000, but it falls to 800. The new equation for the demand for fabric softener is:

• A) 800 - P + 0.01I, and demand has shifted to the left.
• B) 800 - P + 0.01I, and demand has shifted to the right.
• C) 1,080 - P, and demand has shifted to the left.
• D) 1,080 - P, and demand has shifted to the right.

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Definitions:

Problem-Solution Sales Presentation

A problem-solution sales presentation is a sales approach where the seller identifies and highlights a problem the prospective buyer has and presents their product or service as the solution.

Sales Approach

A method or strategy used by salespeople to introduce and sell a product or service to potential customers.

Reciprocity

An agreement whereby a person or organization buys a product if the person or organization selling the product also buys a product from the first party.

Preconceived Answers

Responses or conclusions formed in advance of obtaining complete information or experience, often based on assumptions.