According to the Text,a Franchise System That Is ________ Old

question 45

Multiple Choice

According to the text,a franchise system that is ________ old has the greatest chance of success.

• A) 6 months
• B) 1 year
• C) 2 years
• D) 3 years
• E) 4 years

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Definitions:

Prices

The monetary value assigned to goods and services, determining the terms of exchange in a market.

Bundles

Combinations of goods and services offered together as a single package, often at a discounted price.

Weak Axiom

A principle in consumer theory that if a consumer prefers bundle A over bundle B when both are affordable, they will not choose B over A when income or prices change, holding everything else constant.

Strong Axiom

Often refers to the strong axiom of revealed preference in economics, a principle used to infer a consumer's complete preference ordering over goods.