Price Skimming Is When

question 43

Multiple Choice

Price skimming is when:

• A) the initial product price is set low and is kept constant.
• B) the initial product price is set high giving high short-term profits; then the price is slowly lowered.
• C) the initial high product price is set high and raised.
• D) the initial product price is set low and raised.

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Definitions:

Bill of Rights

The first ten amendments to the U.S. Constitution, guaranteeing fundamental rights and freedoms to American citizens.

Supreme Court

The highest federal court in the United States, noted for its power of judicial review to interpret the Constitution.

Criminally Accused

A person or entity that has been charged with a crime or criminal conduct, pending legal proceedings to determine guilt or innocence.

Fifth Amendment

An amendment to the U.S. Constitution that provides several protections against abuse of government authority, including rights to due process, protection against self-incrimination, and double jeopardy.