The Top Reasons Cross-Channel Shoppers Research Items Online Before Buying

question 161

Multiple Choice

The top reasons cross-channel shoppers research items online before buying in stores include: (1) the desire to compare products among different retailers; (2) the need for more information than is available in stores;and (3) the ease of __________.

• A)reducing geographical barriers
• B)finding new products that are soon to be launched in their area
• C)finding products that are more customized to their exact needs
• D)finding products that are out of season
• E)comparing their options without having to trek to multiple retail locations

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Definitions:

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the average cost per unit of output.

MC = MR

Stands for the economic principle where Marginal Cost (MC) equals Marginal Revenue (MR), a condition for profit maximization in firms, indicating the optimal level of production.

Profit-maximizing Level

The point at which a firm achieves the highest possible profit, balancing the cost of production against revenue from sales.

Perfectly Competitive

A perfectly competitive market is an economic concept where numerous small firms compete against each other with homogenous products, and no single firm can influence the market price.