Which of the Following Statements About Social Networks in Canada

question 7

Multiple Choice

Which of the following statements about social networks in Canada is true?

• A)Social media is used by marketers to help connect consumers with a brand.
• B)Social media is managed well by marketers.
• C)Social media uses only one network to communicate with their customers.
• D)Social media focuses on selling as many products as possible, and companies have started to hard-sell their products to make a profit.

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Definitions:

Economic Profit

The difference between a firm's total revenue and its opportunity costs, both explicit and implicit.

Perfect Competitor

A theoretical market scenario where numerous small firms sell identical products, allowing no single firm to influence the market.

Marginal Revenue

The extra income a company earns by selling an additional unit of a product or service.

Marginal Cost

The extra expense related to the production of an additional unit of a good or service.