_____ Are Defined as External Areas Where There Are Favorable

question 25

Multiple Choice

_____ are defined as external areas where there are favorable demand trends,where customer needs and wants are not being satisfied,and where a company thinks it can compete effectively.

• A)Market opportunities
• B)Market segments
• C)Competitive advantages
• D)Market strengths
• E)Market plans

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Definitions:

Marginal-Utility Schedules

Charts or tables showing the relationship between the quantity of a good consumed and the marginal utility or satisfaction received from consuming each additional unit.

Maximum Utility

The highest level of satisfaction or benefit that a consumer can obtain from consuming goods and services, given their income and prices of goods.

Satisfaction Per Dollar

A measure of the utility or happiness a consumer gains per unit of expenditure.

MUₐ /Pₐ

The ratio of marginal utility (MUₐ) to the price (Pₐ) of an item, often used in consumer choice theory to evaluate optimal consumption.