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COGNITIVE DISSONANCE: Also called buyer's remorse. This post-purchase behavior is more likely to happen when the purchase is a more expensive one. The consumer may experience some regrets or questioning as to whether the purchase was a good one. This is the fifth step in the decision making process. Marketers can help eliminate this by properly selling the product and doing a follow-up to help reinforce the buyer's "good" decision.
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AVERAGE REVENUE CURVE, MONOPOLY A curve that graphically represents the relation between average revenue received by a monopoly for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopoly's output.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"The greatest glory in living lies not in never falling, but in rising every time we fall. " -- Nelson Mandela, statesman
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IRBNE
Income Received But Not Earned
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