Stage 1-Innovation. It is based on technological, operational and /or marketing innovations what types of retailers (from text Figure 12.3) do you think are in this stage at the present time?

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.