Ryan Gave the Manager of His Convenience Store a Set

question 26

Multiple Choice

Ryan gave the manager of his convenience store a set of binoculars so she could see the gasoline prices charged by the other convenience store at that intersection.Ryan told the manager to always match the gasoline prices of the other store.Ryan is using a _______ pricing strategy.

• A) maximizing profits
• B) target profit
• C) target return
• D) status quo
• E) sales

---

Definitions:

Consumer Price Index

The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate inflation.

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Real Cost

The total cost of producing a good or service, including both the monetary and opportunity costs.

NBA Basketball Game

A professional basketball contest between teams of the National Basketball Association.