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TB Figure: 1 TB Figure: 1 -TB Figure 1 represents the six distinct steps in the pricing process.Setting a list price of $199.99 for a new printer would be completed in which cell? A) C B) D C) E D) F -TB Figure 1 represents the six distinct steps in the pricing process.Setting a list price of $199.99 for a new printer would be completed in which cell?


A) C
B) D
C) E
D) F

E) None of the above
F) A) and D)

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What are the conditions favouring the use of penetration pricing?

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A manufacturing company that introduces a product must know or anticipate what specific price its _____ currently charge or will charge in the future.


A) information technology departments
B) subsidiary manufacturing divisions
C) previous industry relations
D) present and potential competitors

E) None of the above
F) A) and B)

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GE has fixed costs of $13B and variable costs for the year of $8B.Their total costs are:


A) $21B
B) $13B
C) $5B
D) there is not enough information to calculate

E) All of the above
F) C) and D)

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Buyers for grain set prices ahead of time by the marketplace.Sellers in this market are simply informed of the price and the amount that is needed.This market is likely one of a(n) :


A) pure monopoly.
B) oligopoly.
C) monopolistic competition.
D) pure competition.

E) None of the above
F) C) and D)

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If competitive market circumstances are such that there are a lot of sellers who use some price competition,some product differentiation,and the purpose of advertising is to differentiate the firm's products from competitors,then _____ must exist in the industry.


A) a pure monopoly
B) an oligopoly
C) monopolistic competition
D) pure competition

E) B) and C)
F) A) and D)

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When Pepsi sells 1,000 cases of Pepsi,their cost per case is $0.30.However,when they sell 2,000 cases,their cost per case is $0.22.These costs are considered Pepsi's:


A) fixed costs.
B) variable costs.
C) marginal costs.
D) administrative costs.

E) A) and B)
F) All of the above

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The average price Washburn charges for a guitar is $349.This price must cover its average costs of $25 for direct materials and $120 in direct labour.It must also cover fixed expenses of $38,000.Assuming everything else stays the same,the company's planned move to Nashville,Tennessee,will reduce its fixed costs by $4,800.This would cause the slope of the total cost curve to __________ and the break-even quantity to __________.


A) decrease; stay the same
B) decrease; increase
C) stay the same; decrease
D) stay the same; increase

E) A) and D)
F) All of the above

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Price elasticity of demand is determined by a number of factors.Which of the following is NOT one of those factors?


A) The availability of substitutes.
B) Type of good (necessity or luxury) .
C) Importance of purchase relative to a person's disposable income.
D) The cost of production.

E) B) and C)
F) A) and B)

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Ace Shoe Company sells heel replacement kits for men's shoes.It has fixed costs of $6 million and unit variable costs of $5 per pair.If the company charges $15 per pair,how many pairs must it sell to break even?


A) 300,000 kits
B) 400,000 kits
C) 600,000 kits
D) 1,200,000 kits

E) All of the above
F) A) and C)

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Elastic demand exists when:


A) a small percentage decrease in price produces a smaller percentage increase in quantity demanded and total revenue falls.
B) a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.
C) an increase in price causes a larger increase in quantity demanded and total revenue falls to zero.
D) the quantity demanded remains the same regardless of level of price and total revenue is unchange

E) None of the above
F) A) and B)

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Figure: 13-5b Figure: 13-5b -In Figure 13-5b,as the two diagonal lines on a demand curve graph show a shift from left to right,it most likely represents A) an increase in demand that did not require an increase in price. B) an increase in demand that required an increase in price. C) no change in price and no change in demand. D) no change in demand or price but a greater profit due to economies of scale. -In Figure 13-5b,as the two diagonal lines on a demand curve graph show a shift from left to right,it most likely represents


A) an increase in demand that did not require an increase in price.
B) an increase in demand that required an increase in price.
C) no change in price and no change in demand.
D) no change in demand or price but a greater profit due to economies of scale.

E) B) and C)
F) A) and B)

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Which of the following is NOT a cost-oriented approach to pricing?


A) experience curve pricing
B) cost-plus fixed fee pricing
C) standard markup pricing
D) loss-leader pricing

E) A) and C)
F) A) and B)

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Figure: 13-3 Figure: 13-3 -Using Figure 13-3,how much price competition is most likely available for video game makers? A) There is almost none; the market sets the price. B) There is some competition within a range of prices. C) There is generally a price leader that sets the price. D) Microsoft, Sony, and Nintendo are aware of each other's prices and may adjust their prices based on the prices of the other 2 firms. -Using Figure 13-3,how much price competition is most likely available for video game makers?


A) There is almost none; the market sets the price.
B) There is some competition within a range of prices.
C) There is generally a price leader that sets the price.
D) Microsoft, Sony, and Nintendo are aware of each other's prices and may adjust their prices based on the prices of the other 2 firms.

E) A) and C)
F) B) and D)

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Figure: 13-5b Figure: 13-5b -Figure 13-5b shows that when the quantity demanded moves from 3.0 to 6 million units,the profit A) increases from $1.50 to $2.00 per unit. B) decreases from $2.00 to $1.50 per unit. C) stays the same per unit. D) Figure 13-5b does not indicate what happens to profit when the quantity demanded moves. -Figure 13-5b shows that when the quantity demanded moves from 3.0 to 6 million units,the profit


A) increases from $1.50 to $2.00 per unit.
B) decreases from $2.00 to $1.50 per unit.
C) stays the same per unit.
D) Figure 13-5b does not indicate what happens to profit when the quantity demanded moves.

E) A) and B)
F) None of the above

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Argue one side of the following statement: Companies who charge premium pricing for required goods (such as home heating and pharmaceuticals)should be allowed to.

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Which of the following statements about profit objectives is true?


A) Canadian firms have long been praised for their insistence on managing for long-run profits.
B) Profit objectives are frequently measured in terms of return on investment or return on assets.
C) Firms that are interested in strategic planning set their objectives to maximize current profit.
D) A target return pricing objective would only be used by a company that needs to attract more customers to survive.

E) A) and B)
F) A) and C)

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Figure: 13-3 Figure: 13-3 -In Figure 13-3,column B represents which type of competitive market? A) Pure monopoly B) Oligopoly C) Monopolistic competition D) Pure competition -In Figure 13-3,column "B" represents which type of competitive market?


A) Pure monopoly
B) Oligopoly
C) Monopolistic competition
D) Pure competition

E) C) and D)
F) All of the above

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There were a number of factors the management team for Strait Crossing Bridge Ltd.(SCBL) had to consider when determining what price to charge users of the Confederation Bridge.Some of the factors that they had to consider were: (1) what they offered to customers,(2) type of user,and (3) ________________.


A) the weather
B) number of customers and the usage rate
C) the time of day
D) other toll bridges

E) B) and C)
F) A) and D)

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The price equation formula is price equals list price minus incentives and allowances plus:


A) salaries.
B) commissions.
C) trade-ins.
D) extra fees.

E) None of the above
F) A) and D)

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