A sales manager is trying to create a pricing strategy for a new product: a home Wi-Fi signal booster. Which of the following facts is most relevant to estimating the point at which the marginal utility per dollar of the device drops to zero?
a. A competitor offers a highly similar, albeit cheaply made, product for an incredibly low price.
b. Most homeowners will need only one, at most two, Wi-Fi signal boosters to cover the entire house.
c. The margin of profit for most Wi-Fi signal boosters on the market is incredibly high.
d. Most homeowners have problems with their Wi-Fi and would benefit highly from a signal booster.
b. Most homeowners will need only one, at most two, Wi-Fi signal boosters to cover the entire house.
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According to the U.S. National Safety Council, a person has a better chance of being killed in which of the following situations?
A) in an aircraft accident B) from being electrocuted C) while riding a bicycle D) while walking
Middlemen have a comparative advantage in
A) lowering transaction costs. B) raising transaction costs. C) robbery and theft. D) tax evasion. E) buying products at a high price and selling them at a lower price.