You Currently Sell the Same Product to Both Professional Plumbers

question 7

Multiple Choice

You currently sell the same product to both professional plumbers and homeowners, and are able to prevent transfer from one group to the other. Your current prices, quantities sold, and the absolute values of the slopes of the demand curves are as follows: If your marginal cost is $10 and you are interested in maximizing your revenues, how would you adjust your prices?

• A) Increase plumbers' price and decrease homeowners' price.
• B) Decrease plumbers' price and increase homeowners' price.
• C) Increase prices for both groups.
• D) Decrease prices for both groups.

Explain how distribution strategies fulfill specific buyer requirements like variety, convenience, and adaptability.

Understand the importance of dual-voltage power supplies and their utility in various scenarios.

Identify and explain the units of measurement used for rating power supplies.

Recognize the appropriate tools and safety equipment to use in potentially hazardous working environments.

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Definitions:

Current Account

A component of a country's balance of payments that includes the trade balance, net income from abroad, and net current transfers.

Imports

Products and services imported into a country from overseas to be sold.

Financial Assets

Assets that derive value because of a contractual claim, such as stocks, bonds, and bank deposits.

Current Account

A component of a country's balance of payments that measures the trade of goods and services, net earnings on investments, and transfer payments.