Solved

In 1995,the Chrysler Corporation Launched the First Complete Remake of Its

question 89

Multiple Choice

In 1995,the Chrysler Corporation launched the first complete remake of its minivan category since the firm invented the vehicle category in 1984.The minivans were designed with more curves on the outside and more space on the inside.One of Chrysler's goals for remaking the minivan was to broaden the minivan's appeal beyond the traditional buyer base of practical families.Advertising showed minivans being used to cart everything from senior citizens to canoes."A minivan is for any time,any place,everyone," was one of the promotional slogans used.To reach other customer groups,Chrysler developed a sports version and a short-wheel-base version of the upscale Town and Country model for sophisticated buyers.Chrysler hoped the $2.6 billion vehicle development cost would pay off as the market expanded.However,competitors also began to offer a wider range of sophisticated models,and competition has become fierce.
-Refer to Chrysler Minivans.By introducing sporty,value-priced,and upscale minivans,Chrysler hoped to forge a long-term relationship with customers as they replace their older minivan.What is Chrysler engaged in?

Definitions:

Rent-Seeking

The practice of gaining economic benefits through manipulation or exploitation of the political environment rather than through traditional economic competition.

Antitrust Exemption

Legal provisions that allow certain industries or companies to avoid full compliance with antitrust laws, often justified by arguments of national interest or market efficiency.

Voting Paradox

A situation in collective decision-making where individual preferences do not result in a consistent collective order of preferences, showing the complexity of social choice.

Impossibility Theorem

A theory stating that no rank-order voting system can meet certain desirable criteria, famously outlined by Kenneth Arrow.