All of the Following Statements About Price Are True Except Which

question 84

Multiple Choice

All of the following statements about price are true except which?

• A)Small changes in price can have big effects on both the number of units sold and company profit.
• B)The price for a product or service must earn a profit for the company.
• C)For most products and services,there is an agreed-upon price range set by makers.
• D)The price must be "right"-in the sense that customers must be willing to pay it.
• E)The price must generate enough sales dollars to pay for the cost of developing,producing,and marketing the product.

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Definitions:

External Validity

The extent to which the results of a study can be generalized or applied to contexts outside the study conditions.

Telephone Surveys

A research method in which data is collected from respondents over the telephone to gather information on various topics.

Observational Study

A study where researchers observe and record behavior or outcomes without intervention to understand relationships between variables.

Variables Controlled

In experiments, these are the factors that researchers keep constant to prevent them from influencing the outcome of the study.