Members of Social Networks Who Do Social Shopping and Understand

question 85

Multiple Choice

Members of social networks who do social shopping and understand their rights and how to use the wisdom and power of crowdsourcing and communities to their benefit best describes

• A) brand loyalists.
• B) social climbers.
• C) intelligent mavens.
• D) social customers.

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Definitions:

TC

Total Cost, which is the total expense incurred in reaching a particular level of output.

Profit-Maximizing

The act of adjusting production and sales to achieve the highest possible profit under given market conditions.

Demand

The quantity of a product or service that consumers are willing and able to purchase at a given price.

Profit

The financial gain made in a transaction or business operation, calculated as the difference between revenue and costs.