Which of the following is NOT one of the three steps to take in segmenting customers into groups? O Charge higher prices to groups with more elastic demand. O Divide the consumers into groups whose demand differs. Give discounts to chosen groups based on identifiable characteristics. Base discounts on characteristics that are hard to change.

As the manager of the local restaurant, you have the responsibility of boosting the restaurant's revenue to cover its expenses. A couple owns the restaurant, and an interesting dilemma arises. While the male owner suggests lowering food prices as a solution, his wife, on the other hand, advocates for increasing prices. What underlies this difference in their opinions? O a. They both think that demand is inelastic. O b. They both think that demand is elastic. O C. The male owner thinks demand is inelastic, but his wife thinks demand is elastic, O d. The male owner thinks demand is elastic, but his wife thinks demand is inelastic.

I pretty sure I got the first part right. I am struggling with bottom parts.

hapter 3 i 13 The table below shows the weekly demand for hamburgers in a market where there are just three buyers. Price $ 6 5 4 3 Buyer 1 Qd 1 Buyer 2 Qd 2 Buyer 3 Qd 3 7 4 6 9 7 8 10 12 15 16 15 21 Multiple Choice If the price of hamburger falls from $5 to $3, then the weekly market quantity demanded will increase from 24 to 52. decrease from 52 to 24. increase from 120 to 156. increase from 29 to 55. 11,044 AUG 28 Saved ... .

Consider the supplier of a product that is an inferior good. For instance, an aluminum supplier for a canned goods producer. During a recession during which average incomes fall, which of the following best describes what would happen to the profit-maximizing price of the supplier? a. The supplier’s profit-maximizing price would decrease due to an increase in demand. b. The supplier’s profit-maximizing price would increase due to an increase in demand. c. The supplier’s profit-maximizing price would decrease due to a reduction in demand. d. The supplier’s profit-maximizing price would increase due to a reduction in demand.

Refer to the graph shown. Demand is unit elastic when revenue is: Revenue in thousands of dollars 99876SMO 10 A B 246 Multiple Choice $8,000 $10,000. D E 10 8 Quantity F G 12 14 16 Refer to the graph shown. Demand is unit elastic when revenue is: Revenue in 2 4 6 Multiple Choice $8,000 $10,000 D 8 10 Quantity G S 12 14 16 Ć

Price Quantity Supplied supply curve A Supply Curve A $1.00 500 supply curve B $2.00 600 Supply Curve B $1.00 600 $3.00 900 When we apply the midpoint method, which of the three supply curves represents the most elastic supply? O supply curve C There is no difference in the elasticity of the three supply curves. Supply Curve C $2.00 400 $5.00 700

Jorge is considering what to give his wife for their wedding anniversary. He is choosing between flowers, dinner at a restaurant, a weekend at a resort hotel, skydiving togethe or a visit to her favorite museum. Based on Jorge's consideration of these options for a gift, Jorge considers them to be: O substitute products. the same product. O complements. potential new entrants. The highest price that a customer is willing and able to pay for a product is the customer's perfect price. trigger price market equilibrium price. reservation price

8. Substitutes, complements, or unrelated? You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: penguin patties, raskels, and kipples. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods. Run-of-the-Mills provides your marketing firm with the following data: When the price of penguin patties decreases by 1%, the quantity of raskels sold decreases by 18% and the quantity of kipples sold increases by 3%. Your job is to use the cross-price elasticity between penguin patties and the other goods to determine which goods your marketing firm should advertise together. Complete the first column of the following…

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working