Your Current Assignment at York Foods Is to Find the Major

question 81

Multiple Choice

Your current assignment at York Foods is to find the major benefits people look for in product classes,the kinds of people who look for each benefit,and the major brands that deliver each benefit.What is this segmentation method called?

• A) Benefit
• B) Behavioural
• C) Age and life cycle
• D) Psychographic
• E) Demographic

Understand the concept of long-run adjustments in purely competitive markets including entry and exit of firms.

Comprehend that in the long run, purely competitive markets yield zero economic profits due to the entry or exit of firms.

Recognize the conditions under which firms will either enter or leave purely competitive markets.

Identify the characteristics and outcomes of constant-cost, increasing-cost, and decreasing-cost industries in the long run.