When Demand Is Elastic, an Increase in Price Will Lead

question 191

True/False

When demand is elastic, an increase in price will lead to an increase in profits.

Comprehend the process and effects of hypnotic suggestion and its applications.

Recognize the characteristics and theories surrounding divided consciousness and dissociation in hypnosis.

Analyze the implications of using hypnosis in legal settings and its impact on memory recall.

Understand the psychosocial and neurological influences on sleep patterns across different age groups.

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Definitions:

Standing-Room-Only Close

A close whereby a salesperson suggests that if a prospect does not act now he or she may not be able to buy in the future, thus motivating the prospect to act immediately.

Summary of Benefits Close

A sales strategy where the salesperson summarizes the key benefits of the product or service, emphasizing its value to encourage purchase.

Question Close

A type of close wherein the salesperson asks questions to generate a decision point.

Assumptive Close

A type of close that assumes the prospect will buy.