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Emma is the manager of a small beauty salon.She deals with different kinds of customers and has to ensure that the customer needs are identified and satisfied.To develop an effective customer service,she should:
Public Choice Economists
Economists who apply economic principles and methodologies to study and analyze political behavior and public policies.
Optimal Allocation
The most efficient distribution of resources among different possible uses that maximizes desired outcomes, such as profit or social welfare, without wasting any resources.
Deferred Costs
Expenses that are incurred but not immediately charged against income, typically spread over several accounting periods.
Rent-seeking Behavior
The practice of individuals or entities using resources to gain economic advantage from the government rather than contributing to wealth creation.
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