Pete Owns a Shoe-Shine Business

question 355

Multiple Choice

Pete owns a shoe-shine business.Which of the following costs would be implicit costs? (i) shoe polish
(ii) rent on the shoe stand
(iii) wages Pete could earn delivering newspapers
(iv)
Interest that Pete's money was earning before he spent his savings to set up the shoe-shine business

• A) (i)and (ii)only
• B) (iv)only
• C) (iii)and (iv)only
• D) (i),(ii),(iii),and (iv)

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Definitions:

Prospect Role

The part or responsibility that a potential customer plays in the sales process, often influenced by their needs, interests, and decision-making power.

Open-ended Questions

Questions formulated to elicit more detailed and thoughtful responses, encouraging the respondent to elaborate on their answers.

Presumptive Close

A sales technique where the salesperson assumes that the customer has already decided to buy and moves towards finalizing the sale.

Multiple-close Sequence

A sales strategy that uses a series of closing techniques, one after another, to seal a deal when a buyer shows hesitation.