Which of the Following Is True of J.n.d

question 73

Multiple Choice

Which of the following is true of j.n.d.?

• A) Decreasing prices below consumers' j.n.d. is likely to cause a significant rise in sales.
• B) Making product improvements that far exceed consumers' j.n.d. is likely to maximize company revenues.
• C) There is no j.n.d. for decreased product volume sold in existing packaging
• D) Making drastic changes to a company's logo to an extent well beyond just below consumers' j.n.d. allows companies to update their image without losing their ready recognition.
• E) Increasing prices below consumers' j.n.d. is likely to go unnoticed by consumers.

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Definitions:

Resources

The inputs, or factors of production, used to produce the goods and services that people want; resources consist of labor, capital, natural resources, and entrepreneurial ability.

Goods

Physical items that are produced and can be bought, sold, or traded, fulfilling consumer needs or desires.

Services

Economic activities that provides intangible products, such as healthcare, education, and entertainment, rather than physical goods.

Population Growth

The increase in the number of individuals in a population, often expressed as a percentage of the total population.