What are the benefits of fair and efficient relationships with transactional customers?
a. Customers are more forgiving of the occasional service failure
b. Good relations lead to repeat business
c. Transactional customers may become strategic partners
d. Increase complaints and damage reputation
e. All of the above
f. Only A, B, and C
f. Only A, B, and C
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Suppose the local newspaper hires students to fold and bag newspapers for delivery and pays them $20 per shift. Five students can fold and bag 300 newspapers per shift. The fourth student added 50 newspapers to total output
The cost of the capital the firm uses is fixed at $50 per shift. a. Is the newspaper operating in the long run or short run? Why? b. What is the average product of 5 students? c. Calculate the total fixed cost, total variable cost, and total costs of folding and bagging 300 newspapers. d. Calculate the average fixed cost, average variable cost, and average total costs of folding and bagging 300 newspapers. e. What is the marginal cost of one of the 50 newspapers folded and bagged by the fourth student?
A hypothetical open economy has a marginal propensity to import (MPI) equal to 0.2 and a marginal propensity to consume equal to 0.7 . Assume that the economy is initially in equilibrium. What will happen to the equilibrium real GDP if a tourist visits the country and spends $100 that she brought with her?
a. It will not change. b. It will increase by $100. c. It will increase by $200. d. It will increase by $143. e. It will increase by $90.