The Pricing Strategy That Assumes That Demand Is Relatively Inelastic

question 171

Multiple Choice

The pricing strategy that assumes that demand is relatively inelastic over certain price ranges is called

• A) price lining.
• B) odd-even pricing.
• C) price skimming.
• D) prestige pricing.
• E) customary pricing.

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Definitions:

Test Reliability

The degree to which an assessment tool produces stable and consistent results over time.

Single Intelligence

The theory or belief that intelligence is a single, general ability that can be measured and quantified.

Mental Capacities

The various faculties of the mind, such as understanding, reasoning, thought, memory, and the ability to learn.

David Wechsler

A psychologist best known for developing several widely used intelligence tests, including the Wechsler Adult Intelligence Scale.