BUS5421 Final - 1 QUESTION 1 TYPE MULTIPLE CHOICE[QUESTION...

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1QUESTION:1[QUESTION BANK ID:4201]TYPE:MULTIPLE CHOICECORRECTIf promotional expenditures make demand<< HIDE ANSWERSAMore elastic, then you should reduce price when you promote the productBMore elastic, then you should increase price when you promote the productCLess elastic, then you should reduce price when you promote the productDLess inelastic, then you should increase price when you promote the productQUESTION:2[QUESTION BANK ID:36594]TYPE:MULTIPLE CHOICECORRECTWhich of the following conditions must be satisfied by a successful price discrimination scheme?<< HIDE ANSWERSAThe seller must be able to identify different customer groups with different demand elasticitesBThe seller must be able to prevent arbitrage between the two groupsCNeither A & BDBoth A & BQUESTION:3[QUESTION BANK ID:68605]TYPE:MULTIPLE CHOICE
2CORRECTIn which type of auction is the item awarded to the highest bidder at a price equal to the highest bid?<< HIDE ANSWERSAVickrey AuctionBCommon-Value AuctionCSealed-bid first-price auctionDSecond-Price AuctionQUESTION:4[QUESTION BANK ID:27846]TYPE:MULTIPLE CHOICECORRECTYour boss asks you to settle a negotiation between yourself and a coworker. In order to improve your own bargaining position, you should encourage your boss to<< HIDE ANSWERSAGive only you an incentive to reach an agreementBGive only your coworker an incentive to reach an agreementCGive no one an incentives to reach an agreementDGive both of you the same incentive to reach an agreementQUESTION:5[QUESTION BANK ID:83412]TYPE:MULTIPLE CHOICECORRECTWhy might a company use an indirect price discrimination scheme versus direct price discrimination?<< HIDE ANSWERSAThe different customer types shop at different storiesB
3The demand for each customer type is the sameCThe different customer types cannot be uniquely identified directlyDThe company can prevent arbitrage between its different customer types

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