A Competition-Based Pricing Strategy Called ________ Involves One or More

question 200

Multiple Choice

A competition-based pricing strategy called ________ involves one or more dominant firms establishing the pricing practices that all competitors in an industry follow.

• A) skimming
• B) penetration
• C) target costing
• D) price leadership

---

Definitions:

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields.

Life Cycle

The series of stages through which something (such as a living being, a product, or a project) goes from its beginning to its end.

Supply Curve

a graphical representation showing how the quantity supplied of a good or service varies with its price.

Marginal Cost

The expense incurred by producing one additional unit of a product.