Which of the Following Statements About Consumer Demand as a Pricing

question 184

Multiple Choice

Which of the following statements about consumer demand as a pricing constraint is most accurate?

• A)The number of potential buyers for the product class has little effect on the price a seller can charge.
• B)The number of potential buyers for the product affects the price a seller can charge, but only if the product is a luxury item.
• C)The number of potential buyers for the product affects the price a seller can charge, but only if the product is a necessity item.
• D)The number of potential buyers for the brand affects the price a seller can charge in the growth stage of a product life cycle, but not in the introductory stage.
• E)Whether the item is a luxury or a necessity affects the price a seller can charge.

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Definitions:

Mononitration Product

A compound resulting from the nitration reaction where only one nitro group is added to a molecule.

Major Organic Product

The primary product of an organic reaction that is formed in the greatest amount compared to any other products.

Benzene

A cyclic hydrocarbon with the formula C6H6, characterized by a ring of six carbon atoms connected by alternating double and single bonds.

Bromination

A chemical reaction that involves the addition of bromine to organic compounds, often used to test for unsaturation.