Table 13-1 -Refer to Table 13-1.What Portion of the Marginal Revenue of the Marginal

question 43

Multiple Choice

Table 13-1

-Refer to Table 13-1.What portion of the marginal revenue of the 5th unit is due to the output effect and what portion is due to the price effect?

• A)output effect = $3.00; price effect = $0.50
• B)output effect = $1.50; price effect = $2.00
• C)output effect = $5.50; price effect = -$2.00
• D)output effect = $4.00; price effect = -$0.50

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Definitions:

Stimulus-Response Model

A concept in psychology and marketing that suggests a direct link between an external stimulus and a predictable response from an organism or individual.

Buyer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts these processes have on the consumer and society.

Organizational Buying Process

The decision-making route that businesses follow to acquire products or services, from recognizing the need to final purchase.

Unconscious Level

The Unconscious Level refers to mental processes that occur automatically and are not available to introspection, influencing thoughts, feelings, and behaviors without our awareness.