Question

Corporations, even if monopolies, should focus on treating customers carefully because:

a) Customers are not a source of revenue
b) Monopolies are exempt from customer focus
c) Customer satisfaction is irrelevant
d) Customers are the source of revenue and should be treated carefully

Answer 1

Monopolies should treat customers carefully because customers are their primary source of revenue, and customer satisfaction is crucial for maintaining sales, despite the lack of direct competition.

Step-by-step explanation:

Corporations, even if monopolies, should focus on treating customers carefully because d) Customers are the source of revenue and should be treated carefully. Since monopolies do not face competition from other firms producing the same product, they exercise some power in setting the market price. However, customer satisfaction remains essential as customers have the choice of spending their money on different products or services. Hence, monopolies must be concerned with consumer demand to ensure sustained revenue streams.