Which of the Following Would Be Used in Setting the Price

question 158

Multiple Choice

Which of the following would be used in setting the price of a new product if considerable competition is expected?

• A) Psychological pricing
• B) Penetration pricing
• C) Odd-number pricing
• D) Price skimming
• E) Prestige pricing

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Definitions:

Consideration

An item of worth provided by each party in a contract, motivating them to engage in the deal for the purpose of exchanging reciprocal actions.

Enforce

To enforce adherence to or fulfillment of a regulation, statute, or duty.

Irrevocable Will

is a will that cannot be revoked or altered once it has been finalized, ensuring that the wishes of the deceased are carried out as specified.

Trust Instrument

A legal document that sets up a trust agreement, specifying how the trust assets are to be managed and distributed.