Bob Expresses His Preference for a Product but Is Concerned

question 32

Multiple Choice

Bob expresses his preference for a product but is concerned that the price is too high.The salesperson should:

• A)give him a discount to make him a loyal customer.
• B)make a "take-it or leave-it" offer at the stated price.
• C)apologize for the price.
• D)point out the relationship between price and quality.
• E)offer him a cheaper product.

Recognize the standards and burdens of proof in defamation cases, especially concerning public figures.

Understand liability in cases of fraudulent misrepresentation.

Grasp the concepts related to invasion of privacy and consent in tort law.

Understand the definition and elements of various intentional torts.

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Definitions:

Variable Costs

Costs that change in proportion with the level of output or business activity, in contrast to fixed costs.

Profit per Unit

The difference between the selling price of a product and its cost per unit.

Profit-maximizing Output

The level of output at which a company achieves the highest possible profit, where marginal cost equals marginal revenue.

Marginal Cost

The cost escalation resulting from the creation of one additional unit of a good or service.