Everyday low pricing is most suitable if ________.
A. consumers are willing to perform activities such as clip coupons to avail of discounts
B. consumers tend to associate price with quality
C. customers are insensitive to changes in price
D. the cost of conducting frequent sales and promotions is high
E. consumers have sufficient time to find the best prices
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In ________ pricing, the firm bases its price largely on competitor's prices.
A. going-rate
B. auction-type
C. markup
D. target-return
E. perceived-value
Which of the following auctions is characterized by one seller and many buyers?
A. Walrasian auctions
B. ascending bid auctions
C. closed auctions
D. sealed-bid auctions
E. reverse auctions
In which of the following auctions does the auctioneer first announce a high price for a product and then slowly decreases the price until a bidder accepts?
A. a Dutch auction with one buyer and many sellers
B. an English auction with one seller and many buyers
C. an ascending bid auction
D. a sealed-bid auction
E. a Dutch auction with one seller and many buyers
In a(n) ________, the buyer announces something he or she wants to buy, and potential sellers compete to offer the lowest price.
A. Dutch auction with one buyer and many sellers
B. English auction with one buyer and many sellers
C. English auction with one seller and many buyers
D. sealed-bid auction
E. ascending auction
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