When a Firm Charges $4

question 202

Multiple Choice

When a firm charges $4.95 instead of $5.00, what do economists call this pricing strategy?

• A)cost-plus pricing
• B)indirect pricing
• C)odd pricing
• D)unusual pricing

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Definitions:

Markov Analysis

A statistical technique used to predict the future state of a system based on its current state and known transition probabilities.

Replacement Chart

A visual tool used in human resource planning to show current jobholders and identify potential replacements within an organization.

Skills Inventory

A comprehensive list or database of the skills, competencies, and qualifications of employees within an organization, used to match workforce capabilities with business needs and opportunities.

Seniority

A system where priority or privilege is given to employees based on their length of service in the company.