Since the Creation of the Hershey Candy Bar Over 100

question 35

Multiple Choice

Since the creation of the Hershey candy bar over 100 years ago,the price of chocolate has fluctuated,but the price of the candy bar has slowly risen.In fact,when the price of chocolate had dramatic price fluctuations over a three-year period,the price of a Hershey's candy bar remained the same.When the price of chocolate was very high,Hershey's was able to maintain its profits by making the bars smaller.Hershey's engaged in:

• A)top-down marketing.
• B)trading up.
• C)bottom-up marketing.
• D)downsizing.

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Definitions:

Total Output

The aggregate quantity of goods or services produced in an economy or by a company during a specific period.

Fixed Costs

Costs that remain constant regardless of the amount of goods produced or units sold, including expenses like rent, wages, and insurance premiums.

Short Run

A period in economic analysis where at least one factor of production is fixed, limiting adjustments to changes in demand or supply.