Individual Members of a Group Will Adapt to Change at Different

question 4

Multiple Choice

Individual members of a group will adapt to change at different rates. Which of the following groups would take the longest to accept change?

• A) Early adopters
• B) Late majority
• C) Innovators
• D) Laggards

---

Definitions:

Price Discrimination

A pricing approach in which the same provider sells identical or nearly identical products or services for varying prices across different markets.

Monopolists

Individuals or firms that are the sole providers of a unique product or service in a market, with the power to control prices and exclude competitors.

Price Discrimination

A pricing strategy that charges customers different prices for the same product or service based on what the seller thinks they can get the customer to agree to.

Elastic Demand

A situation where the quantity demanded of a good or service changes significantly as its price changes.