Joss Is a Marketing Consultant

question 107

Multiple Choice

Joss is a marketing consultant.Iris and Daphne are potential customers interested in commissioning Joss to undertake a market survey and compile the findings in a report.Iris is willing to pay $500 for the service while Daphne is willing to pay $800.Suppose that the opportunity cost of Joss's time is $1200.Assume that Iris and Daphne do not know each other.Which of the following statements is true?

• A)Joss should charge each customer $600; that way he will earn his opportunity cost and it will be fair to both Iris and Daphne.
• B)Joss should charge Iris $500 and Daphne no more than $700; that way he earns his opportunity cost and there is no loss in economic surplus.
• C)Joss should charge Iris $500 and Daphne $800; that way economic surplus is maximised.
• D)Joss should charge Iris $500, but charging Daphne $800 is unfair because it allows Joss to earn more than his opportunity cost.

Recognize the physiological and psychological effects of aerobic exercise on neurotransmitter levels.

Understand the diversity of receptor sites on neurons and their importance in neurotransmission.

Grasp the mechanisms by which drugs can alter neurotransmitter function and synaptic transmission.

Explain the concept of the all-or-none law in neuronal action potentials.

---

Definitions:

Decertification Elections

A process wherein the employees of a bargaining unit vote on whether to remove the union as their collective bargaining representative.

Union Representation

The act of being represented by a labor union or trade union in negotiations and legal matters with an employer.

Card-Signing Campaign

A union organizing strategy where employees sign cards indicating their support for union representation in the workplace.

Distributive Bargaining

A negotiation strategy that involves a fixed amount of resources being divided between parties, often leading to a win-lose scenario.