You Own a Small Store

question 239

Multiple Choice

You own a small store.Your cashier thinks you should raise prices to increase your total revenue and your customer thinks you should lower prices to increase your total revenue.The cashier thinks the price elasticity of demand is ________ and the customer believes the price elasticity of demand is ________.

• A) inelastic; elastic
• B) elastic; inelastic
• C) elastic; elastic
• D) inelastic; inelastic
• E) unit elastic; elastic

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Definitions:

Brand Ambassador

A person, often a celebrity or influencer, hired by a company to represent and promote the company's brand and image.

Brand Manager

A professional responsible for developing and maintaining the image of a product or a brand, ensuring consistency in messaging and marketing across all platforms.

Industry Professionals

refers to individuals with expert knowledge and skills related to a specific industry or field.

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