Hermit, a fashion apparels retailer, recently slashed prices on its premium fashion label, Lau, by 40%. This resulted in a sharp rise in sales of Lau by 30%. This also directly impacted the sales of its lower-priced brand, Infinity, which saw sales reduced by 15%. What is the cross-price elasticity of demand between Lau and Infinity?
Pop-Mart, a chain of discount stores in the U.S., procures its products from many suppliers. Indigo is one among hundreds of other suppliers who supply poultry products to Pop-Mart and other retailers. The price of the products is often dictated by the demand from consumers. Which of the following is true of this scenario?
Quano Inc. decides to produce a 3D-display phone, Chel, which is a much-anticipated release. Most buyers are disappointed within a week because of heating issues. Quano announces immediately that it would replace the defective phones with a rectified model. The new Chel arrives two months later and has a few issues that are taken care of by a software upgrade. This prompts a flood of sales. After six months, Quano releases a new 3D-phone and drops the prices of Chel by over 40%. Jason who has been waiting for this opportunity buys a Chel immediately. In this scenario, Jason is one among the _____.
Which of the following is true of distribution centers?
TESTED 24 Dec 2024
