Which of the Following Is LEAST LIKELY to Be in the "Something

question 31

Multiple Choice

Which of the following is LEAST LIKELY to be in the "Something of Value" part of the "price equation" for CHANNEL MEMBERS?

• A) Service-repair facilities
• B) Rebates
• C) Price-level guarantees
• D) Promotion aimed at customers
• E) Convenient packaging for handling

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Definitions:

Diminishing Marginal Utility

Diminishing Marginal Utility is an economic concept stating that as a person consumes more of a good or service, the satisfaction (utility) gained from consuming each additional unit decreases.

Total Utility

The total satisfaction or benefit that a person receives from consuming a given total quantity of a good or service.

Budget Constraint

The limitations on the consumption bundles that a consumer can afford with a limited budget at given prices.

Utility

In economics, a measure of satisfaction or enjoyment obtained from consuming goods and services.