After Exchanging Greetings and Getting to Know the Customer a Bit

question 138

Multiple Choice

After exchanging greetings and getting to know the customer a bit in an initial sales call, the first goal of a sales presentation is to

• A)close the sale.
• B)offer alternatives.
• C)estimate the total cost to the customer.
• D)requalify the customer.
• E)create interest.

Understand the characteristics and examples of monopolistic competition.

Analyze the long-run outcomes for firms in monopolistic competition, including profit or loss situations.

Recognize the role of excess capacity and its implications in monopolistic competition.

Identify the factors and strategies behind product differentiation.

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Definitions:

Optimal Combination

The most favorable mix of goods, services, or resources to achieve the highest level of satisfaction or output with given resources and constraints.

Efficiency

The property of a resource allocation of maximizing the total surplus received by all members of society.

Equality

The property of distributing economic prosperity uniformly among the members of society.

Decision Making

The cognitive process resulting in selecting a course of action among several alternatives.