A ________ Is a Storeless Retailer Serving a Specific Clientele-Usually

question 97

Multiple Choice

A ________ is a storeless retailer serving a specific clientele-usually employees of large organizations-who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list.

• A) direct-selling vendor
• B) direct marketing vendor
• C) buying service
• D) automatic vendor
• E) corporate retailer

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Definitions:

Increasing Returns

An increase in firm’s output by a larger percentage than the percentage increase in its inputs.

MC

Marginal Cost, the change in total production cost that comes from making or producing one additional unit.

ATC

Average Total Cost, which is the total cost divided by the number of goods produced, representing the per-unit production cost.

AVC

Average Variable Cost; the total variable cost divided by the quantity of output produced, indicative of variable costs per unit of output.