Which of the Following Is Most Likely to Use Individual

question 120

Multiple Choice

Which of the following is most likely to use individual brands rather than a family brand for its products?

• A)manufacturer of knives and scissors for the "top quality" market
• B)manufacturer of canned pet foods and sandwich spreads for final consumers
• C)manufacturer of sweeping compounds,brooms,and mops for business firms
• D)manufacturer of flour for the "mass market"
• E)manufacturer of packaged potato chips and crackers

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Definitions:

Nondiscriminating Monopolist

A monopolist that charges all consumers the same price for its product, regardless of the market segment or consumer willingness to pay.

Marginal Revenue

The additional income earned from selling one more unit of a good or service.

Demand Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting consumer sensitivity to price changes.

Marginal Revenue

The additional income earned from selling one more unit of a product or service.