This is some marketing question, not exam just some practice need help.

38. Demand for a product will be inelastic if: a. its price is so low that it is an inconsequential part of an individual's budget. b. the product has a number of different uses. c. many substitute products are available in the market. d. the product can be repaired and replaced or prolonged in its use. 39. Identify a true statement about yield management systems. a. They determine the availability of product substitutes in industries that are experiencing rapid change. b. They use a software that employs techniques such as discounting early purchases and limiting early sales at these discounted prices. c. They predict necessary service levels required to achieve revenue goals. d. They determine whether it is fmancially more feasible to buy a new product or repair a broken one. 40. Which of the following statements is true about yield management systems (YMS)? a. They are used to eliminate the problem of simultaneous production and consumption from services. b. They are used only in service industries. c. They are complex pricing systems used to establish price equilibrium. (1. They are used to make protable use of the unused capacity of perishable goods. 41. A cost that changes with the level of output is called a(n) . a. liquid cost b. variable cost c. independent cost d. indirect cost 42. does not change as output is increased or decreased. a. Marginal cost b. Dependentcost o. Fixed cost d. Opportunity cost 43. is a pricing policy whereby a rm charges a relatively low price for a product when it is rst rolled out as a way to reach the mass market. a. Penetration pricing b. Price skimming 0. Price discrimination d. Status quo pricing 44. A price skimming strategy is most often used for a new product when: a. competition in the market is abundant. b. customers are unwilling to spend a large amount of money on the product. c. its supply is greater than its demand. (1. the product is perceived by the target market as having unique advantages. 45. Brandont Inc., a machinery manufacturing company, noticed that it was receiving fewer orders than usual. In order to maximize prots with its existing few orders, it attempted to reduce costs by operating more efciently. In this scenario, which pricing objective did Brandont Inc. employ? a. A prot-oriented pricing objective b. A cash maximization pricing objective c. A status quo pricing objective d. A sales-oriented pricing objective 46. Explain the relationship between price and quality of a product that affects a purchase decision. 47. Compare price skimming and penetration pricing