Graph 7-3 -Refer to Graph 7-3.When the Price Falls from P₂ to from P₂

question 54

Multiple Choice

Graph 7-3
-Refer to Graph 7-3.When the price falls from P₂ to P₁, which of the following is NOT true?

• A)the sellers who still sell the good are worse off because they now receive less
• B)some sellers leave the market because they are not willing to sell the good at the lower price
• C)the total cost of what is now sold by sellers is actually higher
• D)all of the above are correct

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Definitions:

Media Fragmentation

The process through which the number of media sources increases and the audience divides across them, making it harder to reach a large, unified audience.

Mass Audience

A large, broad group of people to whom media content, advertising, or marketing campaigns are directed.

Customer Satisfaction

A measurement of how products and services supplied by a company meet or surpass customer expectation.

Brand Loyal

The tendency of consumers to continuously purchase one brand's products over the competition.