__________________ Is(are)considered by the Customer When Making a Purchasing Decision

question 54

Multiple Choice

__________________ is(are) considered by the customer when making a purchasing decision.

• A)Time invested in the purchasing process
• B)Costs incurred by the customer in acquiring that bundle of benefits
• C)Opportunity costs of choosing one offering over another
• D)Both time invested in the purchasing process and opportunity costs of choosing one offering over another
• E)Time invested in the purchasing process, Costs incurred by the customer in acquiring that bundle of benefits, and Opportunity costs of choosing one offering over another

---

Definitions:

Total Revenue

The total amount of money a firm receives from sales of its goods or services, calculated as the price per unit times the number of units sold.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.

Market Period

A very short duration in economics during which the supply of a good is fixed and cannot be adjusted in response to changes in demand.

Long Run

The long run is a period of time in economics where all inputs and factors of production can be varied, allowing companies to adjust all their resources.