Joss Is a Marketing Consultant

question 230

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 $1,200. Assume that Iris and Daphne do not know each other. If the price is $800 per copy,

• A) both Iris and Daphne will purchase Joss's services and Joss will undertake the job.
• B) only Daphne will purchase Joss's services and Joss will undertake the job for her.
• C) only Daphne will want to purchase Joss's services but Joss will not be willing to do the work.
• D) neither Iris nor Daphne will commission the work.

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Definitions:

Social Development

The process of learning to interact with others and understanding social norms and behaviors.

Peer Relationships

Social connections between individuals of the same age group, important for emotional and social development.

Role of Peer

The influence that peers exert on an individual's beliefs, attitudes, and behaviors, often playing a significant part in social development.