Question 1 1 pts When Apple first released the iPhone in 2007, it sold for $599. Two months later, it lowered the price to $399, attracting more customers. Based only on this information, which strategy was Apple using? O Captive-product O Market skimming O Competitive pricing O Market penetration O Optional product Question 2 1 pts Marion Brewing has fixed costs of $130,000 per year. To make a pint of beer, costs them $1.5 and they sell each pint for $6. Based on this information, how many pints of beer do they need to sell to break even? Note: To get this correct, you need to round your answer UP to the nearest whole number. For example, if the result of the formula is 20.4 pints, you can't sell .4 beers and need to sell 21 to break even. If you only sell 20. you are 4 pints short and have not broken even Question 3 1 pts Which of the following is an example of captive-product pricing? McDonald's sells an Extra Value Meal for a price lower than buying a burger, drink, and fries separately O Amazon updates prices for a book based on current supply and demand Having to buy Gillette razor blade refills to fit the Gillette razor handle Samsung offers multiple versions of the Galaxy smartphone with different features at different price points O Applebees gives you a free piece of cake and sings to you for your birthday Question 4 1 pts Bowling Green has lots of restaurants offering different types of food at different price points. Restaurants differentiate themselves based on quality, type of food sold, and price. This is an example of which of the following? Oligopolistic competition O Pure monopoly O Government monopoly O Monopolistic competition O Pure competition