There Are Multiple Models of Pricing Behavior in Oligopolistic Markets

question 36

Multiple Choice

There are multiple models of pricing behavior in oligopolistic markets because

• A)it is difficult to predict how rival firms will react to any pricing decision
• B)the demand curve slopes upward for these firms
• C)firms could earn profit in the long run unlike other markets
• D)price has a direct impact on profit for a firm in oligopoly
• E)the products are not identical in terms of quality, image, location

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Definitions:

Prospect Objections

Reservations or issues raised by potential customers that must be addressed by a salesperson to facilitate a sale.

Stalling Technique

A method used by buyers or sellers to delay decision-making or actions, often to negotiate more favorable terms or to gain more information.

Planning for Objections

Preparing responses to potential objections or concerns a client might raise during the sales process.

Objection Pre-Emption

A sales strategy where potential objections are anticipated and addressed before the customer raises them.