$7.$ Cost$-$plus pricing is a strategy where A$.$ The selling price is determined by adding a fixed percentage to the total cost. B$.$ The selling price is determined based on what the market is willing to pay. C$.$ The selling price is set below the cost to penetrate the market. D$.$ The selling price is determined based on competitor's pricing. $8.$ Which of the following is a major factor that influences pricing decisions? A$.$ The cost of production B$.$ The demand for the product C$.$ The pricing strategies of competitors D$.$ All of the above $9.$ In the context of pricing decisions, what does "price discrimination" refer to$?$ A$.$ Selling the same product at different prices to different segments of the market. B$.$ Selling different products at the same price in different market segments. C$.$ Selling the same product at the same price to all segments of the market. D$.$ Selling different products at different prices to different segments of the market $10.$ Penetration pricing is a strategy used by companies with the intent to A$.$ Maximize profit margin on each unit sold. B$.$ Attract customers by setting a high price for a new product. C$.$ Attract customers by setting a low initial price for a new product. D$.$ Recover the costs of production as quickly as possible. $11.$ Which of the following factors should not be considered in pricing decisions? A$.$ The cost of production B$.$ The prices charged by competitors. C$.$ The company's share price D$.$ Customer perception of value $12.$ Which of the following best describes a relevant cost? A$.$ A cost that changes with the volume of output B$.$ A cost that has already been incurred and cannot be changed C$.$ A cost that differs between decision alternatives D$.$ A cost that remains constant regardless of the level of output $613.$ Which of the following would be a relevant cost in a make$-$or$-$buy decision? A$.$ Depreciation on equipment already purchased B$.$ Direct materials needed to produce the product C$.$ Fixed overhead that will be incurred regardless of the decision D$.$ The original cost of equipment that will be used in the production process $14.$ Opportunity costs in decision making A$.$ Are not considered as they do not involve any cash outlay B$.$ Are irrelevant as they pertain to benefits that could have been received from an alternative not chosen C$.$ Are relevant as they pertain to benefits that could have been received from an alternative not chosen D$.$ Always refer to past costs $15.$ Linear programming is best described as