Which of the Following Statements Is True

question 171

Multiple Choice

Which of the following statements is true?

• A) Companies are price-takers when their products are unique.
• B) Companies are price-setters for a product when there is intense competition.
• C) Companies are price-takers for a product when the pricing approach emphasizes cost-plus pricing.
• D) Companies are price-takers when they have little or no control over the prices of their products or services.

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Definitions:

Reinforcement Theory

A theory that suggests behavior is influenced by reinforcements or consequences, and that behavior can be modified by changing the consequences.

Classical Conditioning

A conditioning concept developed by Russian physiologist Ivan Pavlov that suggests that learning can be accomplished through the use of stimuli.

Reinforcement Theory

A behavioral theory positing that behavior is shaped and maintained by its consequences, such as rewards or punishments.

Classical Conditioning

A learning process that involves creating associations between a naturally occurring stimulus and a previously neutral one, leading to a learned response.