Explain the Elements of Source Credibility and Suggest a Credible

question 137

Essay

Explain the elements of source credibility and suggest a credible source for the following products, services, or ideas:
(a) golf shoes
(b) weight-loss product
(c) hair salon
(d) breast cancer awareness

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Definitions:

Marginal Cost

The price of making an additional unit of a product or service.

Perfect Competition

A market setup where numerous buyers and sellers interact, offering identical products, with no barriers to entry or exit, and complete transparency of information, resulting in suppliers having no control over prices.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market. This seller faces no competition, as he is the sole seller of goods with no close substitute.

Output

refers to the total amount of goods or services produced by a firm, industry, or economy within a certain period.