John Saw an Ad for Flowers That Included the Phone

question 21

Multiple Choice

John saw an ad for flowers that included the phone number 1-800-FLOWERS.Two months later,John wanted to send his mother some flowers for Mother's Day and remembered the phone number from the ad,so he called and ordered flowers.What type of effect is this?

• A) subliminal
• B) trial
• C) delayed
• D) high-involvement
• E) bandwagon

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Definitions:

Total Profit

The overall financial gain made by a business after subtracting all costs from the total revenue.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service compared to what they actually receive, due to market price.

Equilibrium

refers to a state in a market where supply equals demand, and in the broader sense, it's a condition where all forces acting on a system are balanced.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.