Suppose Barry Is Maximizing His Utility from Consuming Used Paperback

question 293

Multiple Choice

Suppose Barry is maximizing his utility from consuming used paperback novels and audio books.The price of a used novel = $4 and the price of an audio book = $8.If the marginal utility of the last novel was 32 units of utility (utils) what was the marginal utility of the last audio book purchased?

• A)2 utils
• B)12 utils
• C)16 utils
• D)64 utils

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Definitions:

Customer-Relationship Model

A business strategy that focuses on maintaining engaging, loyal relationships with customers to foster brand loyalty and repeat business.

Consultative Selling

A sales technique where the salesperson acts as an advisor, understanding client needs and recommending solutions accordingly.

Close-Ended

Pertaining to questions or options that limit responses to a set of choices, offering no opportunity for open-ended answers.

Sales Call Planning

The process of organizing and preparing objectives, strategies, and key points to discuss during a sales call to maximize the likelihood of a successful outcome.