A Salesperson Makes the Following Statement: "This Chicken Is Quick-Frozen

question 7

Multiple Choice

A salesperson makes the following statement: "This chicken is quick-frozen at 30 degrees below zero." Which term best describes the salesperson's statement?

• A)benefit
• B)market need
• C)advantage
• D)segmentation variable
• E)feature

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Definitions:

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed that buyers are willing to pay, capturing the entire consumer surplus.

First-degree Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed, tailored to the buyer's willingness to pay.

Incremental Revenue

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

Marginal Revenue

The additional income received from selling one more unit of a good or service; it is a critical concept in deciding the optimal quantity of goods to produce.