Filmin Inc

question 13

Multiple Choice

Filmin Inc.has decided to increase the production of its printers.Filmin does not conduct market research before making its marketing decisions.To ensure profits for the company,Filmin has instructed its marketing force to aggressively advertise and promote its printers.The CEO of Filmin believes that the market will absorb more products if powerful promotion strategies are used.After increasing production of printers,the company plans to reduce the prices of the printers to encourage customers to buy them.Filmin appears to have a__________orientation.

• A)task
• B)production
• C)sales
• D)customer

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, elasticity being greater when a small price change causes a large change in quantity demanded.

Consumption

The use of goods and services by households, contributing to their living standards and economic activity.

Midpoint Formula

A method used in economics and statistics to calculate the elasticity of a variable, or the percentage change in one variable in response to a percentage change in another.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price, indicating sensitivity to price changes.