Prices Are "Administered" When

question 271

Multiple Choice

Prices are "administered" when:

• A) they fall below "suggested list price."
• B) prices can change every time a customer asks for a price.
• C) government regulators set prices.
• D) firms consciously set their own prices.
• E) they are set by bargaining between buyers and sellers.

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Definitions:

Correlation

Usually a number between +1.0 and -1.0 that indicates whether and how much two variables are related. Correlation indicates whether an increase in one variable will increase or decrease another variable. Correlation indicates only that two variables are somehow related, not that one variable causes the other to increase or decrease.

Variables

Elements or factors that can change and affect the outcome of experiments or studies, often manipulated or measured by researchers.

Causal Link

The relationship between two events where one is the result of the occurrence of the other; a cause-effect relationship.

Dependent Variable

In an experiment, the variable that may change as a result of the independent variable (whatever new condition the experimenter adds). In other words, the dependent variable depends on the independent variable.