Jonah Lives in a Small Town Where There Is Only

question 3

Multiple Choice

Jonah lives in a small town where there is only one Mexican restaurant.Which of the following is likely to be true about the price elasticity of demand for meals at the Mexican restaurant?

• A)Demand is likely to be perfectly inelastic.
• B)Demand is likely to be perfectly elastic.
• C)Demand is likely to be relatively elastic.
• D)Demand is likely to be relatively inelastic.

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Definitions:

Cold Canvassing

The process of approaching potential customers or clients directly, without prior contact, to offer products, services, or information.

Telephone Consumer Protection Act

A United States federal law enacted in 1991 designed to restrict telemarketing calls, the use of automated telephone equipment, and the sending of unsolicited faxes and texts.

Cold Calling

A technique in sales where sales reps make unsolicited calls to potential customers, who have had no prior contact with the salesperson.

Personal Selling Process

A series of steps undertaken by sales professionals to identify potential buyers, communicate benefits, and persuade them to make a purchase.