Patrick Lives near Two Gas Stations,Exxon and Shell

question 253

Multiple Choice

Patrick lives near two gas stations,Exxon and Shell.If Exxon decreases the price of gas,we predict that the quantity of gasoline demanded at Shell will

• A) decrease because Exxon and Shell gas are complements.
• B) decrease because Exxon and Shell gas are substitutes.
• C) increase because Exxon and Shell gas are substitutes.
• D) increase because Exxon and Shell gas are complements.
• E) not change Exxon and Shell are different brands of gasoline.

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Definitions:

IMC

Integrated Marketing Communications, a strategic approach that integrates various promotional tools and channels to provide clarity, consistency, and maximum communication impact.

Mass Television Advertising

A marketing approach that involves broadcasting promotional messages to a broad audience through television media.

Consistency

Consistency refers to the uniformity of actions, values, methods, measures, principles, expectations, and outcomes within a company or product line over time.

Price Increases

Adjustments made by a company to the selling prices of its products or services, typically to respond to inflation, increased production costs, or to improve profit margins.