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Homework 08086200 1. Which of the following is an example
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1. Which of the following is an example of an unfair-trade law?
A. Wal-Mart is unable to carry Lladro figurines because of
B. CD manufacturers are permitted to force retailers to charge at
least $15.00 per CD.
C. Stores in Pennsylvania are required to charge at least $2.20
for a gallon of milk.
D. Stores in Kansas are prohibited from charging more than
$2.50 for a gallon of milk.
2. eCost.com lowers prices on computer accessories and printer
cartridges with the objective of taking market share from rival PC
Mall.com. This is an example of a _______ objective.
A. profitability C. prestige
B. meeting competition D. volume
3. Wal-Mart prices a box of laundry detergent at $6.47. This is an example of what
A. Unit pricing C. Product line pricing
B. Psychological pricing D. Promotional pricing
4. In the analysis of economic cost and revenue curves, which of the following would be
considered a variable cost?
A. Wages and overtime C. Lease payments on installations
B. Rent on production facilities D. Insurance
5. Which of the following illustrates the strategy of yield management?
A. Matinee prices at the movies
B. Menu changes based on seasonal availability of certain foods
C. Promoting portable MP3 players as necessities
D. Clearance sales on cars at the end of the model year
6. The method of price setting that’s most widely used is _______ pricing.
A. breakeven C. customary
B. competitive D. cost-plus
7. A manufacturer offers retailers a 2% payment per unit sold to cover advertising costs for
the manufacturer’s product. This payment is a
A. trade discount. C. promotional allowance.
B. cash discount. D. rebate.
8. Transfer pricing is used when
A. government agencies price their services.
B. goods are sent from one profit center within the organization to another.
C. goods are sold by one manufacturer to another.
D. competitive bidding fails to set the price for a product.
9. A new pizza parlor is just opening up in an area that already has quite a few pizzerias.
The owner decides to offer his $6 pizza at $4.50 for the first two months he’s open. His
plan is an example of what type of pricing strategy?
A. Competitive C. Skimming
B. Market-plus D. Penetration
10. The use of bots to search out price quotes on specified products forces Internet
A. keep prices low. C. operate their Web sites at a loss.
B. close off their Web sites from bots. D. cannibalize sales.
11. For years, a small local diner has offered a hearty bowl of soup and a hard roll for $.99.
The owner is finding it difficult to maintain this price. Instead of increasing the price, she
decides to serve slightly smaller bowls of soup and a smaller roll. This owner is concerned
about making changes to her product’s
A. target return. C. prestige pricing.
B. customary price. D. market incentive.
12. According to the PIMS study, which of the following is likely to happen?
A. As a company’s market share increases, its profitability will decrease.
B. As a company’s market share decreases, its profitability will increase.
C. As a company’s market share increases, its profitability will increase.
D. As a company’s product quality increases, its profitability will decrease.
13. To distinguish their high-end products from similar products of their competitiors, some
companies use a _______ pricing strategy.
A. market share C. skimming
B. competitive D. penetration
14. A company calculates that its fixed costs for producing 100 units totaled $500 last year.
The variable costs totaled half that amount for that same production period. To calculate
the average total cost of production, you would divide $750 by
A. 100. C. the marginal cost.
B. 50. D. the marginal revenue.
15. The primary reason unit pricing came into being was to
A. reduce the amount of haggling between consumers and sellers.
B. assist consumers in determining the best buy among various packaging sizes.
C. establish a global community in which all consumers pay the same price for a product.
D. set prices to appeal more to those consumers who typically buy more of the product.
16. Which of the following companies is most likely to offer loss-leader pricing?
A. Airline C. Film studio
B. Automaker D. Grocery store
17. Pricing objectives that seek to develop and maintain an image of quality and exclusiveness
so as to appeal to status-conscious consumers are _______ objectives.
A. profitability C. meeting competition
B. personal D. prestige
18. If all tobacco companies independently raise their prices for all types of cigarettes, their
total revenues would probably
A. increase. C. decrease.
B. stay the same. D. fluctuate wildly.
19. A manufacturer of diapers and other personal-care products wishes to expand its distribution
network and market its products in Central and South America in addition to the
United States. Which pricing strategy would be most likely to succeed?
A. A standard worldwide price C. Market-differentiated pricing
B. Zone pricing D. Bundle pricing
20. The number of units that must be sold at a certain price to recover total costs is
A. macroeconomic price theory. C. marginal analysis.
B. breakeven analysis. D. target return analysis.
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