Generally,a _______ Represents Either a Short-Term Response to a Competitive

question 20

Multiple Choice

Generally,a _______ represents either a short-term response to a competitive threat or a broadly accepted method of calculating a final price for the customer that is short term in nature.

• A) pricing strategy
• B) reference price
• C) high/low strategy
• D) loss leader price
• E) pricing tactic

Define the concept of unit contribution margin.

Explain the use of regression analysis in estimating cost behavior.

Practice the high-low method for estimating variable and fixed costs.

Understand the importance of fair and rational cost allocations.

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Definitions:

Pessimistic Explanatory

A tendency to explain negative events as being widespread, permanent, and uncontrollable.

Martin Seligman

A psychologist known for his work on positive psychology, learned helplessness, and for promoting concepts such as PERMA to characterize well-being.

Downward Comparison

A social comparison strategy where individuals compare themselves to others who are less competent or in a worse situation, which can boost self-esteem.

Self-effacing Bias

The tendency to attribute successes to external factors and failures to internal factors, often observed in some cultures.