Consider the Following Statements

question 141

Multiple Choice

Consider the following statements:
A.Car owners purchase more gasoline from a gas station that sells gasoline at a lower price than other rival gas stations in the area.
B.Banks do not take steps to increase security since they believe it is less costly to allow some bank robberies than to install expensive security monitoring equipment.
C.Firms produce more of a particular DVD when its selling price rises.
Which of the above statements demonstrates that economic agents respond to incentives?

• A)a only
• B)b only
• C)c only
• D)a and b
• E)a, b, and c

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Definitions:

Benefits

The advantages or positive outcomes that come from actions, policies, products, or services.

Relationship Marketing

A marketing strategy focused on building long-term relationships and customer loyalty rather than short-term transactions.

Starwood Preferred Guest Program

A loyalty program offered by Starwood Hotels, providing rewards and benefits to frequent guests. (Please note: As of my last update, Marriott International has acquired Starwood Hotels, and the program may have been integrated into Marriott's loyalty program.)

Target

A defined set of buyers that a corporation directs its offerings towards.