Why are estimated models of demand and consumer behavior useful to managers?
What will be an ideal response?
Such demand studies may provide insights in the development of competitive strategies by highlighting the importance of the characteristics influencing the demand for different products and by showing what trade-offs consumers may be willing to make between characteristics.
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If a firm is unable to distinguish different customer groups
A) it will not use product differentiation. B) it will be unable to maximize profits. C) it will find the quantity to product indeterminate. D) it might use a product line extension.
The $787-billion stimulus package enacted by the Federal government in 2009 to try to deal with the Great Recession was intended to:
A. Shift the aggregate expenditures schedule down B. Close an inflationary expenditures-gap C. Bring inflation down D. Push the aggregate expenditures schedule upward