Use the Following to Answer the Questions

question 111

Multiple Choice

Use the following to answer the questions.
Gillette shaving razors were first manufactured in 1895.Over the years,Gillette made improvements on their razors offering many "firsts" such as the Mach3,the Sensor,and the Fusion.For many years,women were forced to use razors designed primarily for men,but often marketed to women by offering them in different colors and with minimal modifications.In 1998 Gillette developed the Venus razor,based on the Mach3 but made specifically for women.Gillette promoted the Venus razor heavily,with television ads and other forms of media.The Gillette product line,now owned by Procter & Gamble,continues to introduce new versions of the Venus,such as the Venus Embrace,which has additional blades and other modifications.
-Refer to Scenario 10.1.Molly has been using a Bic disposable razor for her shaving needs for the last ten years.She doesn't really see the need to spend more money on razors,but she sees that it is becoming more difficult to find the Bic,and so she is considering the Venus Embrace.Molly is definitely not a(n) ____ in the product adopter categories,and is more likely to be ____.

• A) innovator; an early adopter
• B) early adopter; an innovator
• C) early majority; an early adopter
• D) innovator; an early majority
• E) innovator; a late majority

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Definitions:

Economic Resources

Assets or inputs that contribute to the production of economic goods, including land, labor, capital, and entrepreneurship.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenue, capturing the true economic value created.

Opportunity Costs

A concept in economics that describes the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another.

ATC

Average Total Cost is the sum of all production costs divided by the quantity of output produced.