Joss is a marketing consultant iris and daphne are

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Survey of Accounting
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Chapter 11 / Exercise Case 11-2
Survey of Accounting
Warren
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58) Joss is a marketing consultant. Iris and Daphne are potential customers interested incommissioning Joss to undertake a market survey and compile the findings in a report. Iris iswilling to pay $500 for the service while Daphne is willing to pay $800. Suppose that theopportunity cost of Jossʹs time is $1,200. Assume that Iris and Daphne do not know each other. Ifthe price is $500 per copy,A) only Iris will purchase Jossʹs services and Joss will undertake the job for her.B) both Iris and Daphne will want to purchase Jossʹs services but Joss will not be willing toundertake the job.C) only Daphne will purchase Jossʹs services and Joss will undertake the job for her.D) both Iris and Daphne will purchase Jossʹs services and Joss will undertake the job.58)Answer: B
Diff: 2Page Ref: 527-528/527-528Topic: Price DiscriminationLearning Outcome: Micro 20: Apply the concepts of opportunity cost, marginal analysis, and present value tomake decisionsAACSB: Analytic Skills59) Joss is a marketing consultant. Iris and Daphne are potential customers interested incommissioning Joss to undertake a market survey and compile the findings in a report. Iris iswilling to pay $500 for the service while Daphne is willing to pay $800. Suppose that theopportunity cost of Jossʹs time is $1,200. Assume that Iris and Daphne do not know each other. Ifthe price is $800 per copy,
59)
Diff: 2Page Ref: 527-528/527-528Topic: Price DiscriminationLearning Outcome: Micro 20: Apply the concepts of opportunity cost, marginal analysis, and present value tomake decisionsAACSB: Analytic Skills60) Joss is a marketing consultant. Iris and Daphne are potential customers interested incommissioning Joss to undertake a market survey and compile the findings in a report. Iris iswilling to pay $500 for the service while Daphne is willing to pay $800. Suppose that theopportunity cost of Jossʹs time is $1,200. Assume that Iris and Daphne do not know each other.Which of the following statements is true?
60)
Diff: 2Page Ref: 527-528/527-528Topic: Price DiscriminationLearning Outcome: Micro 20: Apply the concepts of opportunity cost, marginal analysis, and present value tomake decisionsAACSB: Analytic Skills17
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Survey of Accounting
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Chapter 11 / Exercise Case 11-2
Survey of Accounting
Warren
Expert Verified

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