When Firms Set Prices Similar to Those of Competitors,they Are

question 69

Multiple Choice

When firms set prices similar to those of competitors,they are following a strategy of

• A) me-too pricing.
• B) copycat pricing.
• C) competitive parity.
• D) market-broadening pricing.
• E) industry-standard pricing.

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Definitions:

Ethical Relativism

The philosophical view that moral standards, values, and judgments are not universal but are culturally and individually determined.

Open-Mindedness

The willingness to consider new ideas, arguments, and information without bias or predetermined conclusions.

Moral Behavior

Actions that conform to accepted standards of good or right conduct, often based on societal or personal ethical principles.

Good Person Philosophy

A belief system that emphasizes the inherent goodness of individuals and the importance of moral and ethical behavior in personal development.