One Important Reason Channel Members Are Included Between Producers and End

question 125

Essay

One important reason channel members are included between producers and end users is to overcome discrepancies.Name and briefly describe four discrepancies channel members overcome.

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Definitions:

Marginal Utility

The supplementary enjoyment or value derived from the use of one more unit of a good or service.

Hypothetical Consumer

A theoretical representation of an average or typical consumer used in economic models to predict the behavior of consumers under different market conditions.

Total Utility

The total enjoyment gained from the use of a particular cumulative amount of a product or service.

Average Cost Curve

A graphical representation showing how the average cost of production changes as the quantity of output is increased.