The Pricing Strategy That Assumes That Demand Is Relatively Inelastic

question 303

Multiple Choice

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

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

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Definitions:

Engineering

is the application of scientific, mathematical, and empirical principles to innovate, design, develop, maintain, research, and improve structures, machines, devices, systems, and processes.

Forward-Passing

A project management technique used in network analysis to determine the earliest start and finish times for each activity in a project plan.

Scheduling

The process of organizing, planning, and controlling workloads and resources to complete tasks efficiently and within set timeframes.

Organising

The process of arranging resources and tasks to achieve a specific goal or operation efficiently, often involving planning, coordinating, and controlling resources.