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SCENARIOS Longaberger

question 40

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SCENARIOS
Longaberger
Longaberger is a company that sells baskets,pottery,fabrics,home decor and home accessories through independent sales consultants.It has a Web site at www.longaberger.com.A visitor at this Web site can learn how to become a sales consultant and present a Longaberger home show for their friends.Answers to any questions someone might have who would like to sell Longaberger baskets are available at the site.There are additional pages at the site that tell the company's history,offer decorating tips,and spotlight this month's products.Each month the company,which began as a producer of high-quality baskets,creates an on-line newsletter for its customers,who are very brand loyal.One issue of the newsletter included sale information,new product information,and a story about the history of the Longaberger family.Access to the newsletter is available at the Web site.
-Refer to Longaberger.If the Longaberger Company wants to know how many people visit its site how often and how long they stay each time,the company would be examining its:

Definitions:

Perfectly Competitive Industry

A market structure where many firms offer identical products, and no single buyer or seller has the market power to influence prices.

Price Setters

Firms or entities that have the ability to influence or set the price of goods and services in a market due to lack of competition or market dominance.

Perfectly Competitive Firms

Companies operating in a perfectly competitive market, where they sell identical products and cannot influence market price, leading to them being price takers.

Production Decision

The process of deciding on the quantity of goods or services to produce, based on various economic factors.