-The Figure Above Shows the Situation Facing Smart Digit, Inc

question 33

Multiple Choice

-The figure above shows the situation facing Smart Digit, Inc., a firm in monopolistic competition that produces calculators. What is the firm's economic profit per day?

• A) zero
• B) between $1 and $700
• C) between $701 and $900
• D) more than $901

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Definitions:

Feature

Any physical characteristic of a product.

Advantage

The performance characteristic of a product that describes how it can be used or will help the buyer.

Benefit

A favorable result the buyer receives from the product because of a particular advantage that has the ability to satisfy a buyer’s need.

Trial Close

A sales technique where the seller proposes a closing question or statement to gauge the buyer's readiness to complete the purchase.