An Important Part of Customer Service Is ________

question 102

Multiple Choice

An important part of customer service is ________.

• A) maintaining a friendly attitude
• B) giving customers what they want
• C) offering a toll-free number with representatives available 24/7.
• D) keeping costs low by offshoring the customer service call center

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Definitions:

Limited Market

A market with restrictions on the scope of products or services that can be sold or on who can participate as buyers or sellers.

Pure Monopolists

Firms that are the sole provider of a product or service with no close substitutes, granting them significant control over market price.

Economic Profits

Economic profits are the excess over total costs, including both explicit and implicit costs, representing the additional amount earned by resources over their next-best alternative.

Barriers to Entry

Factors that make it difficult for new firms to enter a market, such as high start-up costs or strict regulations.