Chocolate Concoctions,a Maker of High End Chocolate Candies,decided to Price

question 126

Multiple Choice

Chocolate Concoctions,a maker of high end chocolate candies,decided to price its boxes of candies below the long-term market price.The decision was made to increase market share and discourage other firms from entering the chocolate market.Chocolate Concoctions was implementing a

• A)penetration pricing strategy.
• B)price lining strategy.
• C)skimming price strategy.
• D)variable pricing strategy.

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Definitions:

Excise Tax

A tax levied on the sale of specific goods or services, often included in the price of the item such as tobacco or alcohol.

SUVs

Short for sport utility vehicles, these are large vehicles that combine elements of passenger cars and off-road vehicles, often featuring spacious interiors and the ability to drive on rough terrains.

Government

The organized governing body of a nation, state, or community, responsible for creating and enforcing laws, policies, and regulations.

Consumers

Individuals or entities that use goods or services produced within an economy.