THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 113

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a recent marketing experiment,consumers were given one of four different types of dishwashing detergent and asked to use it for a month.At the end of that time they were asked to rate the detergent in terms of overall quality.The results are presented below.

-What percentage of the consumers rated their detergent fair or good?

• A)49.0%
• B)41.0%
• C)17.5%
• D)23.6%

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Definitions:

Occupational Licensing

A regulatory process where individuals must obtain a license or certification from the government or a professional body to legally perform certain types of work or professions.

Inclusive Unionism

A labor movement strategy that emphasizes the inclusion and representation of all workers, disregarding their professional, demographic, or contractual status.

Monopsonistic

Referring to a market condition where there is only one buyer for many sellers, giving the buyer significant control over prices and terms.

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product that is homogeneous.