Can loyal consumers (VLC) be offered quality products and services at premium rates when the consumer segment's demand is high? Can they be allowed less service if their VLC is low? Justify.

Q: Why might a consumer want to purchase a risky product?     A. A consumer might not be able to…

A: Individuals who choose more risky items or investments are usually risk lovers. They indulge in…

Q: We have covered market imperfections and their effects during the course. Discuss at least two of…

A: A defective market alludes to any financial market that doesn't satisfy the thorough guidelines of a…

Q: Why does a seller with a good reputation face a different opportunity cost foroffering poor-quality…

A: Quality reflects the reputation of a company. The reputation of a firm is a very important component…

Q: Assume that the seller knows the quality and the value of a used good but that the buyer does not.…

A: Introduction If the good is good in quality then the good is fully efficient and its worth value is…

Q: what are your contributions of a pharmacist into socio-economic development as a consumer and as a…

A: A pharmacist is said to be a person who is involved in the process of designing, creating, or…

Q: An inferior good is Multiple Choice O generally of low quality. O purchased in the underground…

A: The good is either normal or inferior. For normal goods, the demand for the good increases as income…

Q: Assume that product X is quantified in the following manner: QDX= -2PX + 0,5PY - 0,2PZ + 1,2I. In…

A: The law of demand follows that other things remaining the same, the quantity demanded of  product…

Q: Please provide an example of someone who violated netiquette and what happened as a result

A: When interacting via email or the internet, netiquette refers to a system of rules and traditions…

Q: George Akerloff focused the market for used cars and discussed an issue later generally called the…

A: In the year of 1970, a behavioral economist, George Akerloff published a paper "The Market for…

Q: In markets for information, which party generally has more knowledge about the value of the…

A: In the market for information, people gets information about goods and services by sellers and…

Q: Insurance is valuable because a-most individuals are not rational. b-individuals do not know all…

A: Insurance refers to an agreement between the insurer and insured, in which the insurer guaranteed…

Q: Demand for Insurance Find the Expected Utility for the Beneficiary (Baseball Pitcher) Determine the…

A: Given, Utility function The probability that pitcher would become injured = 0.1 Earning if he…

Q: When buyers cannot assess the quality of a product before buying, owners of_ units are more likely…

A: When buyers cannot assess the quality of a product before buying, owners of low-quality units are…

Q: When buyers cannot assess the quality of a product before buying, owners of units are more likely to…

A: Company's profit margin per unit sold can be defined as the difference between the price and average…

Q: Assume a consumer's demand for a medical service is as follows: Q = 100 - Pp where Pp is the…

A: Answer is given below

Q: does poverty have an effect on juvenile deliquency?

A: Yes, poverty has an effect on juvenile delinquency. Poverty is a major repeating factor of juvenile…

Q: What factors are used to judge if consideration is adequate to ensure a fair bargain? Choose 2…

A: For a consideration to be real, both sides must make a pledge. This means that one party must make a…

Q: Screening and Imperfect Information Asymmetric information refers to a market where one side (either…

A: Market refers to the place where the buyers and sellers exchange goods and services in the market.…

Q: What are your three choices for reducing the amount of time spent waiting in traffic? What…

A: as an rational consumer or human beings the use of resources we should prefer in efficient and…

Q: Use the following information in answering questions 1 - 9. Assume persons of type 1 value quality…

A: since you have asked multiple questions and according to our policy we can only solve the first part…

Q: To maximize output, setting clear goals will enhance employees' performance. True or not True?…

A: Employees performance is characterized as how a representative satisfies their work obligations and…

Q: Moral hazard creates tradeoffs that complicate insurance design and policy choices. Imagine a linear…

A: The situation explains that the cost per visit was $100 and the number of visits was equal to…

Q: *Make a response,question, or clarification for that opinion

A: The consumer is an individual that buys the products and services from the seller in the market.

Q: Consider a used car market where buyers cannot observe the car's true quality until after purchase…

A: Adverse Selection is defined as a situation in a market that occurs when either the seller or the…

Q: Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores…

A: Opportunity cost refers to value of next best alternative. It refers to the foregone income that…

Q: Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores…

A: Given information Juanita makes $16 per hour at work.  She wants to buy a suit, for that she has to…

Q: Ryanair sells two types of airfares, Standard and Flexi plus. There are 6000 consumers: 5000…

A: Given that; Standard and Flexi plus are the two categories of flights offered by Ryanair. There are…

Q: Which part of a special form or open perils policy should be considered or consulted to determine…

A: Economics as a subject is used to study and plan the allocation of scarce resources among humans…

Q: Give an example of Quality/new goods bias?

A: New good bias is the tendency to not count new goods as a part of price index, and it occurs because…

Q: Rational decisions are made through a process (a) that takes a long time and much effort (b) of…

A: Rationality may be defined as an ability and willingness to follow a reasoned, unemotional and…

Q: How can the  seven deadly sins of CRM failure  be used to manage post-pandemic shopping?

A: With regards to CRM and client reception, there's by all accounts a misguided feeling of "in the…

Q: information refers to a market where one side (either the buyer or the seller, but usually the…

A: One of the effective ways of approaching asymmetric information is by screening. Screening is the…

Q: The classification of goods or services into a particular class depends on the individual consumer.…

A: In a market, goods and services are classified into different groups based on their features and…

Q: What is the ideal of zakat distribution strategies?

A: Zakat distribution is a way of providing funds to the needy in the Muslim community. Zakat is…

Q: Explain Benefits and Flaws of Payback Screening?

A: The objective of payback screening is to calculate the number of years it takes to recover the…

Q: What is the term that economists use for pricing that is inconsistent among consumers? a. moral…

A: Price discrimination refers to a selling strategy by producers/sellers in which they charge…

Q: If the price elasticity of demand for medical care is estimated to be 0.3, then doctors can raise…

A: Elasticity measures the responsiveness of quantity demanded to changes in price.

Q: Explain the Principles of Morality in Islamic Economics consumption related to Muslim consumer…

A: Considering the Islamic Economics consumption is an activity which contributes to mankind for their…

Q: dentify an experience good. Identify a search good. How does the retailing of the experience good…

A: Experience goods are considering to those goods whose valuation cannot be done before buying that…

Q: What are the limitations with the Quantity- Quality (QQ) model

A: According to this model, a trade-off between quantity and quality occurs as the marginal cost of…

Q: How might imperfect information impact price? Group of answer choices Because buyers cannot…

A:

Q: pay $50, and person D is willing to pay $90. The willingness-to-pay is one

A: A and B will the pivotal person. They pay a combined tax of $60. Misreporting his willingness to pay…

Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.