You Are a Senior Sales and Marketing Analyst for a Major

question 162

Multiple Choice

You are a senior sales and marketing analyst for a major retailing firm in Wyoming. The marketing manager just stopped by your office with a very frustrated look on her face. She tells you that she is confused why every time the company raises the sales price of its products, total revenue for the company declines.Based on this information, which of the following explanations do you give her for why this situation occurs? ​

• A)The demand for the company's products is inelastic, so total revenue declines when prices are raised.
• B)The demand for the company's products is elastic, so total revenue declines when prices are raised.
• C)The demand for the company's products is elastic, so unit sales increase when prices are raised.
• D)The demand for the company's products is inelastic, so unit sales increase when prices are raised.
• E)The demand for the company's products is elastic, so fixed costs increase when prices are raised.

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Definitions:

Patriarchal Societies

Social systems in which men hold primary power and predominate in roles of political leadership, moral authority, social privilege, and control of property.

Matriarchal Societies

Communities or societies where power and inheritance are passed through the female line, and women hold primary positions of authority.

Egalitarian Societies

Communities or societies that emphasize equality for all members, minimizing hierarchy and differences in wealth, status, and power.

Authoritarian Societies

Societies characterized by strict obedience to authority at the expense of personal freedom.