Anthony Is a Salesperson for Xaim Chemicals and Is Faced

question 11

Multiple Choice

Anthony is a salesperson for Xaim Chemicals and is faced with a buyer objection. According to the LAARC method, the first thing Anthony needs to do is:

• A) forestall.
• B) ask confirmatory questions to the buyer.
• C) respond to the objection.
• D) listen carefully.
• E) assess the objection.

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Definitions:

Zero Economic Profits

Occurs when a firm earns just enough revenue to cover its total costs, including opportunity costs, but no more.

Efficiently

Performing or functioning in the best possible manner with the least waste of time and effort.

Economies of Scale

The cost advantage achieved by businesses when production becomes efficient, as the scale of operation increases leading to a reduction in average costs.

Positive Economic Profits

Earnings that exceed the total costs, including both the explicit and implicit costs of a business.