An Exporter Writing a Quote for a Customer Located in a Developed

question 32

Short Answer

An exporter writing a quote for a customer located in a developed country can expect that several of his competitors will quote in the ____________________ currency.

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Definitions:

Status Quo Bias

A cognitive bias that represents a preference for the current state of affairs, leading individuals to resist change.

Marginal Cost

The expense associated with creating an extra unit of a product or service.

Marginal Benefit

The further satisfaction or value an individual gains from consuming an extra unit of a certain product or service.

Optimal Quantity

The amount of a good or service that achieves the best balance between cost and benefit.