-Refer to the Above Table

question 456

Multiple Choice

-Refer to the above table. Assume the consumer spends his entire income. The price of a hotdog is $1, the price of a movie is $6, and the consumer has $15. What is the consumer's optimum?

• A) 2 hotdogs and 2 movies
• B) 3 hotdogs and 2 movies
• C) 4 hotdogs and 4 movies
• D) 0 hotdogs and 2.5 movies

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Definitions:

Purchase Decision Process

The stages a consumer goes through in deciding to buy a product or service, including recognition of need, information search, evaluation of alternatives, purchase, and post-purchase evaluation.

Advertisements

Public notices or announcements, typically promoting a product, service, or event, through various media channels.

Salespeople

Individuals who are employed to sell products or services to customers, using various techniques to persuade potential buyers and close sales.

Information Search

The process by which consumers seek and gather information about products, services, or ideas before making a purchasing decision.