Odd-Even Pricing Involves

question 270

Multiple Choice

Odd-even pricing involves

• A) setting a limited number of prices for certain categories of products.
• B) setting an initial high price to cover new product costs and generating a profit.
• C) taking advantage of the fact that consumers do not always respond rationally to stated prices.
• D) setting prices in uneven dollar amounts.
• E) setting an initial low price to establish a new product in the market.

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Definitions:

Warm and Cold Receptors

Sensory nerve endings in the skin that respond to temperature changes, with some responding to warmth and others to coolness.

Temperature

A physical quantity expressing hot and cold, measured by a thermometer and determined by measuring the kinetic energy of the particles of an object.

Brain

The complex central organ of the nervous system, responsible for processing sensory information, regulating vital functions, and enabling thought, emotion, and memory.

Discriminating Odors

The ability to recognize and differentiate between various smells.