The Amount of a Markup Percentage That Customers Are Willing

question 49

Multiple Choice

The amount of a markup percentage that customers are willing to pay is usually higher when which of the following conditions exist?

• A) there is idle capacity
• B) demand is strong
• C) competition is intense
• D) demand is elastic

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Definitions:

Motives

Motives are psychological forces that drive an individual to perform actions that are aimed at satisfying needs or achieving certain goals.

Tension Reduction

A psychological process or technique aimed at decreasing stress or anxiety levels in an individual, often through relaxation or problem-solving strategies.

Biological Factors

Components and influences stemming from the biological level, such as genetics, neurochemical imbalances, and brain structure, affecting an individual's health and behavior.

Social Factors

External societal influences that affect an individual's behavior, attitudes, and life chances.