Customers Who Have Left Are Much More Likely Than Current

question 25

True/False

Customers who have left are much more likely than current customers to tell a company what it is doing wrong.

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Definitions:

Willingness to Pay

The maximum amount a consumer is ready to spend on a good or service.

Consumer Surplus

The discrepancy between the amount consumers are prepared to pay for a product or service and the price they actually spend.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.

Consumer Surplus

The contrast between the theoretical sum consumers are prepared to pay and the practical sum they pay for a good or service.