Which of the Following Best Describes the Unique-Value Effect on Price

question 5

Multiple Choice

Which of the following best describes the unique-value effect on price sensitivity?

• A)Customers are less price-sensitive when there are no acceptable substitutes for a product.
• B)Customers are less price-sensitive when the purchase is necessary to gain full benefit from assets previously bought.
• C)Customers are less price-sensitive when their expenditure for the product or service is a relatively low proportion of their total income.
• D)Customers are less price-sensitive in the short run when they cannot store large quantities
• Of the product as a hedge against future price increases.

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Definitions:

Security

A measure or mechanism put in place to protect against unauthorized access, alteration, or destruction of data or physical property.

Debt

The amount of money that is owed or due to be paid by an individual or entity to another.

Deposit Only

A banking feature allowing for the deposit of funds into an account but not permitting withdrawals without specific authorization.

Indorsement

Indorsement refers to the act of signing one's name on the back of a negotiable instrument, such as a check, thereby transferring rights or title to another party.