If a Lobster in Maine Costs $10 and That the Same

question 16

Multiple Choice

If a lobster in Maine costs $10 and that the same type of lobster in Massachusetts costs $30,then people could make a profit by

• A)buying lobsters in Maine and selling them in Massachusetts.This action would increase the price of lobster in Massachusetts.
• B)buying lobsters in Maine and selling them in Massachusetts.This action would decrease the price of lobster in Massachusetts.
• C)buying lobsters in Massachusetts and selling them in Maine.This action would increase the price of lobster in Massachusetts.
• D)buying lobsters in Massachusetts and selling them in Maine.This action would decrease the price of lobster in Massachusetts.

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Definitions:

Demographic Variables

Characteristics of populations used to segment markets, such as age, gender, income, education, and ethnicity.

Age

A measure of the length of time that an individual or entity has existed, often used as a criterion in demographic segmentation and targeting.

Gender

A category into which humans and most other living beings are divided on the basis of their reproductive roles and functions.

Demographic Segmentation

Segmentation that divides markets by characteristics such as age, gender, income, education, and family size.