_____ Prefer to Do Things the Way They Have Been

question 57

Multiple Choice

_____ prefer to do things the way they have been done in the past and are very suspicious of new ideas.

• A) Innovators
• B) Early adopters
• C) Laggards or nonadopters
• D) Late majority customer group
• E) Opinion leaders

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Definitions:

Consumer Equilibrium

In marginal utility theory, the combination of goods purchased that maximizes total utility by applying the utility-maximizing rule.

Prices

The amount of money required to purchase a good or service, often determined by the forces of supply and demand in the market.