Many Companies Are Reluctant to Increase Prices on Routinely Purchased

question 34

Multiple Choice

Many companies are reluctant to increase prices on routinely purchased consumer goods. Instead they:

• A) accept the lower margins and sometimes absorb the loss.
• B) decrease the quantity of the product just below the consumers' j.n.d.
• C) decrease the quality of the product.
• D) all of the above.

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Definitions:

Nodding

A physical gesture involving the lowering and raising of the head, typically used to signal agreement, acknowledgment, or understanding.

Empathetic

Showing an ability to understand and share the feelings of another, demonstrating compassion and comprehension.

Acknowledge

Recognition or acceptance of the truth or existence of something.

Cherished Beliefs

Cherished beliefs are deeply held convictions or values that an individual or group considers of paramount importance.