Print Qaestions 4. Suppose you have just been hired as a management consultant b

Question

Print Qaestions 4. Suppose you have just been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. In your first presentation to management, how would you describe your planned methodology to perform the analysis? O A. Economic method. O B. Price discrimination method. O C. Management consulting method. D. Scientific method. What tool would you employ to analyze the relationship between gasoline prices and consumer behavior? O A. Refining models. OB. Fashion models. O c. Accounting models. D. Economic models

Explanation / Answer

4) An economic method will be helpful to describe the optimal price of gasoline at the service station. Because this method can describe the economic situation and consumer behavior. How the different economic situation change the price of gasoline can only be explained by an economic method. Option A is correct.

To analyze the relationship between gasoline price and consumer behavior economic models will be helpful. The only economic model describes the consumer behavior. Option D is correct

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