QUESTION 1 1 points measures consumers' sensitivity to price changes. Price elasticity of demand Income elasticity of demand Competitive profit elasticity of demand Inelastic demand price parity 1 points QUESTION 2 For which of the following is demand likely to be least sensitive to price increases? Spring break vacations A specific brand of cereal. Prescription drugs. Theater tickets. Save Al Save an Click Save and Submit to save and submit. Click Save All Art to save all answers etv s A 14 1 points QUESTION 3 David manages a Shoney's restaurant. He is considering staying open later in the evening. For David, the variable costs associated with staying open longer hours will include all of the following EXCEPT: ingredients used in preparing food. hours worked by cooks. monthly rent on the restaurant building. energy costs. QUESTION 4 1 points At the break-even point costs are zero. price is maximized fixed costs are zero. net profits are zero. 1 points QUESTIONS If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is QUESTIONS 1 points SA If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is: 4,000 units. 1,000 units 250 units 100 units 1 points QUESTION 6 In determining the price for his company's new phone, Matt is assessing what consumers consider the regular or original price for similar phone available in the market. Matt is assessing the influence of on pricing strategy odd-even prices reference prices cost of ownership everyday low pricing 1 points QUESTION 7 QUESTION 7 1 points lowers the price below the store's cost. Recessionary pricing Loss leader pricing Employee pricing Sales promotion pricing 1 points QUESTIONS Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price: penetration bundling fixing skimming 1 points 5 QUESTION 9 1 points The major objectives associated with a market penetration pricing strategy are to: capture the high end of the market demand curve and lower introduction costs. build sales and market share. minimize customer dissatisfaction and maximize reference price value. provide an incentive to purchase a less desirable product in order to obtain a more desirable product QUESTION 10 1 points Save The occurs when unit cost drops as the quantity sold increases. price foxing return improvement value effect cumulative bundling benefit experience curve effect SABA Sare and Sub Click Save and submit to and submit. Click Save All Stowall