Examlex

Solved

Mingles, Inc

question 113

Multiple Choice

Mingles, Inc. concentrates its efforts on its target market of 18 to 25 year olds. It is using a(n) ____ strategy.


Definitions:

Quantity Axis

A graphical representation element used in economics to indicate quantities, such as quantities of goods produced or sold.

Marginal Revenue

The extra revenue earned from the sale of an additional unit of a product or service.

Maximize Profits

The process by which a firm adjusts its production and pricing strategies to earn the highest possible profit.

Economic Profits

Profits calculated by subtracting both the explicit and implicit costs of production from total revenues.

Related Questions