Use the Information Below to Answer the Following Question(s)

question 42

Multiple Choice

Use the information below to answer the following question(s) .Acorn Products currently sells small boats for $360.It has costs currently assigned to it of $280.A competitor is bringing a new small boat to market that will sell for $300.Management believes it must lower the price to $300 to compete in the market for small boats.Marketing believes that the new price will cause sales to increase by 10 percent, even with a new competitor in the market.Acorn's sales are currently 100,000 per year.
-What is Acorn's target selling price if costs cannot be reduced and target profit is changed cost plus 20 percent?

• A)$280.00
• B)$336.00
• C)$350.00
• D)$353.33
• E)$360.00

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Definitions:

Natural Mimicry

The act of imitating or copying the appearance, behaviors, or sounds of other species or natural phenomena, often as a survival technique.

Facial Expressions

Movements of the facial muscles that convey emotions, intentions, or reactions without verbal communication.

Informational Social Influence

The effect where a person conforms to the opinions or behaviors of a group because they believe the group is correct.

Chameleon Effect

The unconscious mimicry of the postures, mannerisms, facial expressions, and other behaviors of one's interaction partners, often facilitating social connection.