Joss Is a Marketing Consultant

question 240

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 Joss charges the same price per copy to both Iris and Daphne,

• A) the report will not get written.
• B) only Daphne will commission the job and the report will be written.
• C) both Iris and Daphne will commission the job and the report will be written.
• D) no conclusion can be drawn without information on the price.

---

Definitions:

Data

Information collected for analysis or used to reason or make decisions.

Value for X

A placeholder term often used in mathematics to represent an unknown or variable quantity.

Data

Quantitative or qualitative values of variables or sets of information, often used for analysis or decision-making.

Value for Z

typically relates to statistic or math, representing a specific value within a standardized normal distribution, often used in significance testing.