
PG MA CH 13

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Other
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University
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Easy
Kurikulum 6
Used 3+ times
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110 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1) As a general rule of economics, companies should only produce and sell units as long as
A) there is customer demand for the product
B) there is a relatively small supply of the product when compared to past operating periods
C) the revenue from an additional unit exceeds the cost of producing it
D) there is a generous supply of low-cost direct materials
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2) In setting prices for products and services, managers may attempt to charge what the customer is willing to pay however, too high a price may ________.
A) deter a customer from purchasing a product and seek alternatives
B) increase demand and demand for the product
C) indicate supply is too plentiful
D) decrease a competitor's market share
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3) Companies must always examine their pricing ________.
A) based on the supply of the product
B) based on the full cost of producing the product and price to make a profit
C) through the eyes of their customers and then manage costs to produce a profit
D) based on the GAAP cost of producing the product and then add a mark-up
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4) Which of the following statements is true about the factors that affect pricing decisions?
A) Information about competitors' technologies is not useful for pricing decisions.
B) Information about a competitor in a perfect market affects pricing decisions
C) Increase in price of a substitute product does not affect pricing decisions.
D) Managers must always be aware of the competition when pricing their products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5) In a perfectly competitive market, which of the following is a primary factor influencing pricing decisions?
A) cost of production
B) availability of raw materials in the market
C) information on competitor's cost structure
D) value customers place on product
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6) Which of the following statements is true of the cost of producing a product?
A) It controls pricing in highly competitive markets.
B) It affects the willingness of a company to supply a product
C) It includes manufacturing costs, but not product design costs for pricing decisions.
D) It is not a factor to be taken into account while pricing a product.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7) In a noncompetitive environment, the key factor affecting pricing decisions is the ________.
A) customer's willingness to pay
B) price charged for alternative products
C) information on competitor's cost structure
D) minimum price acceptable to the firm
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