You have been hired as a marketing director for terraineous, a hiking apparel and footwear company. your most urgent problem is that sales of its newest product, a hiking boot, are failing to meet projections. in analyzing the situation, you learn that the company is falling short in customer service; no one has been designated to answer buyers' questions about how to clean and care for the boot. when you meet with the ceo, you want to pinpoint exactly which variable of the marketing mix is at the root of this problem. what should you tell her?

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.