A Virtuous Cycle Occurs

question 127

Multiple Choice

A virtuous cycle occurs

• A)when lobbyists petition members of Congress to grant a public franchise; the lobbyist then raise money for those Congress members who granted the franchise.
• B)when monopoly profits are used to create new products for additional monopoly profits.
• C)when a firm can attract enough buyers initially to increase a product's usefulness and attract even more buyers.
• D)when a firm's sales volume reaches a level where the firm can take advantage of economies of scale; thereby reducing the price of the product to further boost its sales.

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Definitions:

Social Media Platforms

Digital venues that facilitate the creation, sharing, and exchange of content, ideas, career interests, and other forms of expression via virtual communities and networks.

PR Professional

A specialist in managing the public relations and image of individuals, companies, or organizations, through various communication strategies and media.

Public Support

Refers to the backing or endorsement by the general population towards a specific cause, initiative, or entity.

Tourism Industry

The sector of the economy that deals with services related to travel and accommodation for tourists, including hotels, restaurants, and attractions.