Table 33 -Refer to Table 3

question 14

Multiple Choice

Table 3.3
$\begin{array}{|l|c|}\hline \text { Demand } & \text { Supply } \\\hline P=80-Q D & P=50+1 / 2 Q S \\\hline Q D=80-P & Q S=2 P-100\\\hline\end{array}$
-Refer to Table 3.3.The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick.The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units.What is the value of economic surplus in this market?

• A)$300 thousand
• B)$600 thousand
• C)$1,200 thousand
• D)$1,600 thousand

Recognize the importance of convenience for customers in manufacturer-retailer partnerships.

Comprehend distribution strategies (selective, exclusive, intensive) used by manufacturers.

Differentiate between various types of retailers and their strategies (e.g., omnichannel, off-price, supercenters).

Understand the role and impact of omnichannel operations in retail.

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Definitions:

Successive Approximation

A behavioral strategy that rewards closer and closer approximations to the desired behavior.

Variable-Interval Reinforcement

A reinforcement schedule in operant conditioning where rewards are given after unpredictable time intervals, leading to steady and consistent responses.

Self-Actualization

The attainment of an individual's abilities and potential, seen as an essential motivation or demand inherent in every person.

Successive Approximations

A technique in behaviorism used to shape behavior by rewarding actions that are progressively closer to the desired behavior.