For Some Product Categories,customers Simply Have Come to Expect Finding

question 12

Multiple Choice

For some product categories,customers simply have come to expect finding products priced at customary levels.The "expected" prices for such products are referred to as:

• A) Price lines.
• B) Price points.
• C) Standard prices.
• D) Promotional prices.
• E) Psychological prices.

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Definitions:

Profit Center

A segment or division of a company that is directly responsible for generating its own revenue and profit.

Cost Center

A department or function within a business to which costs are charged for accounting purposes, but does not directly generate revenue.

Investment Center

A business unit or segment within an organization that is responsible for its own revenues, expenses, and investments in assets.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of a company in managing its labor and supplies in the production process.