Often Consumers Base Their Perception of Price on What They

question 5

Multiple Choice

Often consumers base their perception of price on what they perceive to be the customary or ________.

• A)fair price
• B)penetration price
• C)dynamic price
• D)captive price
• E)trial price

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Definitions:

Doctrine

A principle or set of principles laid down by an authority as incontrovertibly true.

Ultra Vires

An act or decision made by an entity that is beyond the scope of its authority, often considered invalid or illegal.

Ultra Vires

Acts conducted by a corporation that lie beyond the powers conferred to it by its corporate charter or the law.

Legal Authority

The lawful right or power to make decisions, enforce laws, or administer justice within a given jurisdiction.