Figure 21-4 -Refer to Figure 21-4.In Graph (B),what Is the Price of the Price

question 215

Multiple Choice

Figure 21-4
-Refer to Figure 21-4.In graph (b) ,what is the price of good X relative to good Y (i.e. ,P_x/P_y) ?

• A) 2/7
• B) 3/6
• C) 7/2
• D) 7

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Definitions:

Conviction

The firm belief in the truth of one’s products or services, often seen as necessary for successful sales efforts.

Prospect

A potential customer or client who has been identified as fitting a target market or demographic but has not yet made a purchase.

Mental Steps

The cognitive processes or stages one goes through when solving a problem or making a decision.

Purchasing Decision

The process of evaluating and choosing among alternative products or services to fulfill a need or desire.