Market-Skimming Pricing Would Likely Be Most Effective in Selling ________

question 15

Multiple Choice

Market-skimming pricing would likely be most effective in selling ________.

• A)any convenience item
• B)an electronic device for which research and development must be recouped
• C)shampoo and bath soap
• D)anything easily copied by competitors
• E)most items at EDLP retailers such as Walmart

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Definitions:

Minimum-Wage Laws

Laws establishing the minimum per-hour payment that employers are legally allowed to offer their employees.

Unemployment

The situation in which individuals who are able and willing to work cannot find employment.

Minimum-Wage Law

Legislation that sets the lowest hourly wage rate that employers can legally pay their workers.

Equilibrium Wage

The wage level at which the quantity of labor demanded by employers matches the quantity of labor supplied by workers, leading to a stable employment situation.