Which of the Following Pairs Are Characteristics of Price-Takers

question 235

Multiple Choice

Which of the following pairs are characteristics of price-takers?

• A)Less competition and target pricing
• B)Cost-plus pricing and less competition
• C)Target costing and heavy competition
• D)Cost-plus pricing and lack of product uniqueness

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Definitions:

Upper Class

The segment of society that possesses the highest level of wealth, social status, and influence.

Wealth

A measure of net worth that includes income, property, and other assets.

Bottom 90 Percent

Refers to the vast majority of a population that is not within the top 10% in terms of wealth or income, often emphasizing disparities in wealth distribution.

Middle Class

Social class composed primarily of white collar workers with a broad range of education and incomes; they constitute about 30 percent of the U.S. population.