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when the average variablle cost is falling, which of the following is allways true
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- Zoe's bakery operates in a perfectly competitive industry. The variable costs at Zoe's Bakery increase, so all of the cost curves (with the exception of fix cost) shift leftward. The demand for Zoe's pastries does not change, nor does the firm shut down. To maximize profits after the variable cost increase, Zoe's Bakery will ___ its price and ___ its level of production. a. decrease; increaseb. raise; increasec. do nothing to; decreased. raise; decrease
- In which of the following approaches to measuring customer value does the firm offer a test product at different prices in different market areas, like geographic locations?a.) Price experimentb.) Dollarmetric methodc.) Direct value assessmentd.) Economic analysis
- Which of the following is the first step in using the perceived value analysis method to measure an offer's perceived value?a.) Identify customers' required benefits and valuesb.) Weigh benefits and valuesc.) Rate each offer from the various suppliersd.) Develop benefit/value scores