Which of the Following Is Often the Most Important Data

question 19

Multiple Choice

Which of the following is often the most important data produced by a test market?

• A)purchase data
• B)awareness data
• C)competitive response
• D)source of sales
• E)none of these

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Definitions:

Collude

To engage in a secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.

Perfectly Competitive

A market structure characterized by many buyers and sellers, freedom of entry and exit, homogeneous products, and perfect information.

Marginal Cost

The alteration in the overall cost of production that occurs with each additional unit produced.

Total Revenue

The amount a firm receives for the sale of its output.