A Single Jar of Original Formula Carmex Has Different Prices

question 243

Multiple Choice

A single jar of original formula Carmex has different prices for the product depending upon where it is sold, but each price will end in a nine ($0.99 at mass merchandisers like Walmart or Target, and between $1.59 and $1.79 in drug and food retailers such as Walgreens and Kroger) . This pricing strategy is called

• A) standard pricing.
• B) odd-even pricing.
• C) customary pricing.
• D) everyday lower pricing.
• E) at-market pricing.

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Definitions:

Bricklayers

Skilled tradespeople who lay bricks, concrete blocks, stone, and other masonry materials to construct or repair walls, foundations, partitions, and other structures.

Efficiency Wage

A theory suggesting that paying workers a higher wage than the market equilibrium wage can lead to increased productivity and efficiency.

Equilibrium Wage

The salary level where the demand for labor from employers matches the supply of labor from workers.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in a production process.