Which of the Following Characteristics of Business Customers Is True

question 61

Multiple Choice

Which of the following characteristics of business customers is true?

• A)A single purchase by a business customer is typically larger than that of an individual consumer.
• B)Demand for industrial products is derived from ultimate demand for consumer products.
• C)Relationships between business marketers tend to be close and enduring.
• D)All of the above characteristics are true.
• E)Only (a)and (b)are true.

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Definitions:

Marginal Revenue Curve

A graphical representation that shows the change in total revenue for every unit increase in the quantity of output sold.

Demand Curve

A graphical representation showing the relation between the price of a good and the quantity demanded by consumers.

Profit Maximizing

is a strategy where a firm decides on the quantity of production and price to maximize its profit.

Elasticity Of Demand

A gauge of the extent to which demand for an item is affected by fluctuations in its price.