A Utility Function Is a Mathematical Function That Assigns Values

question 30

Multiple Choice

A utility function is a mathematical function that assigns values to consumption bundles to represent the

• A) Consumer's income
• B) Consumer's preferences
• C) Marginal rate of substitution
• D) Prices of the goods in the consumption bundle

---

Definitions:

Sales Quotas

Targets set for sales professionals or teams, representing a specified number of products or services to be sold within a certain timeframe.

Territory Plans

Strategies or plans created to achieve sales targets within specific geographical areas, involving allocation of resources and activities.

Sales Call Allocation

The process of determining and assigning the appropriate amount of sales calls to different prospects or customers.

Nonselling Time

Periods during a salesperson's schedule that are not directly involved in selling activities, such as travel, administrative tasks, and training.