The Pricing Strategy That Assumes That Demand Is Relatively Inelastic

question 171

Multiple Choice

The pricing strategy that assumes that demand is relatively inelastic over certain price ranges is called

• A) price lining.
• B) odd-even pricing.
• C) price skimming.
• D) prestige pricing.
• E) customary pricing.

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Definitions:

Self-monitoring

The practice of observing and recording one's own behavior, thoughts, or emotions, often for the purpose of self-improvement or therapy.

Response Discrimination

The ability to differentiate between various stimuli and respond accordingly, often discussed in the context of learning and behavior modification.

Data Analysis

The process of examining, cleaning, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.

Self-management Approach

A strategy that involves individuals taking initiative and responsibility for their actions and well-being, focusing on setting and achieving personal goals.