For Long-Run Pricing Decisions,what Is the Advantage of Using Stable

question 106

Multiple Choice

For long-run pricing decisions,what is the advantage of using stable prices?

• A)Helps to build buyer-seller relationships
• B)Minimises the need to frequently monitor competitors' prices
• C)Reduces the need to change cost structures frequently
• D)Reduces competition

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Definitions:

Breach of Contract

The failure, without legal excuse, to perform any promise or obligation outlined in a contract.

Respective Promises

Promises made by two or more parties where each party's promise is considered in regard to, or in relation to, the promises of the other party or parties.

Quasi-Contract

A legal concept where the court imposes a contractual obligation on a party who has not actually entered into a contract, to prevent unjust enrichment.

Mutual Assent

In contract law, the state of mind that exists between an offeror and an offeree once a valid offer has been accepted and once the parties know what the terms are and have agreed to be bound by them. Also known as “a meeting of the minds.”