A Marketer of Yo-Yos Wants to Know How an Increase

question 82

Multiple Choice

 A marketer of yo-yos wants to know how an increase in price would affect its sales.It uses a test store where it increases the price of the yo-yo by ten percent and then studies its impact on sales.Comparing sales in the test store with those in other stores provides evidence about the likely impact of a price change in the overall market.Identify the type of market research used in the scenario.

• A) Experimental research
• B) Mathematical modeling research
• C) Observational research
• D) Qualitative research

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Definitions:

Total Cost

The complete cost of production, including both fixed and variable costs, for producing a specified number of goods or services.

Price L

A symbolic representation often used in economic models to denote the price of a particular good or service, labeled "L".

Output

The amount of goods or services produced by a company, industry, or economy.

Deer

A type of wild or farmed animal with antlers that is often hunted for sport, meat, or for its skin.