Which of the Following Is True of Low-Margin/high-Turnover Stores

question 55

Multiple Choice

Which of the following is true of low-margin/high-turnover stores?

• A)They differentiate themselves with unique assortments and a prestigious store image.
• B)They focus on shopping or specialty goods.
• C)They focus on standardized,prepackaged merchandise.
• D)They emphasize prestigious national brands or exclusive goods unavailable elsewhere.

---

Definitions:

Total Profits

The sum of earnings from a business operation, after all expenses have been deducted from total revenue.

Price-discriminating Monopolist

A monopolist that charges different prices to different consumers or groups of consumers for the same product, not based on cost differences.

Market

Any structure that allows buyers and sellers to exchange any type of goods, services, and information.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with elasticity greater than one indicating a strong response.