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Author Question: Joe is an athlete who plays a variety of sports that all require various athletic shoes. He has a ... (Read 94 times)

roselinechinyere27m

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on: Jun 29, 2018
Joe is an athlete who plays a variety of sports that all require various athletic shoes. He has a favorable attitude toward Nike shoes. This favorable attitude is called brand
 A) loyalty.
  B) recognition.
  C) preference.
  D) insistence.
  E) equity.

Question 2

Which of the following statements about price elasticity is false?
 A) Steak is an example of a product that has an elastic demand for most people, because when price goes up quantity demanded goes down proportionally.
  B) Elasticity of demand is the relative responsiveness of a change in quantity demanded to changes in price.
  C) If marketers can determine price elasticity, then setting prices at optimum levels is much easier.
  D) When price is raised on a product that has an inelastic demand, then total revenue will decrease.
  E) A product like electricity has an inelastic demand.


briseldagonzales

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


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