Which of the following approaches to understanding and predicting consumer behavior depends primarily on the knowledge and experience of a firm's employees and its suppliers?

A) Direct consumer surveys.
B) Expert opinion.
C) Analysis of historical data.
D) Test marketing and price experiments.

B

Economics

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Indicate whether the statement is true or false

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An economic profit of zero implies: a. normal profit

b. the firm is covering both explicit and implicit costs. c. the firm's revenues are sufficient to compensate the money and time that the owners put into the business. d. all of the above

Economics