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Understanding consumer’s decision making is important for corporate strategy. Which of the following is NOT directly...

Understanding consumer’s decision making is important for corporate strategy. Which of the following is NOT directly related to the benefits of understanding consumer’s optimal choice?


a. Understanding consumer’s decision making is required to drive the supply curve


b. Understanding consumer’s decision making is useful for corporate pricing strategy


c. Understanding consumer’s decision making is useful for corporate strategic positioning strategy


d. Understanding the marginal principle is useful to allocate efficiently scared resources

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Answer #1

Option A is correct

Supply curve relates the quantity supplied by a firm for a given market price. consumer decision making has no role to play in the construction of supply curve because it is basically the result of cost of production of the firm. However pricing strategy and positioning of the firm is related to the demand function which means consumer decision making has a role to play..

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