CH17_Question - Money that is left over after paying for...

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Money that is left over after paying for company activities is called: A) return on investment B) a contribution margin C) profit D) net worth E) a current asset A C At Wal-Mart, Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer. The items, which were sold together, retailed at $28.50, but were marked down to $19.99. The retailer sold one at the $28.50 price and five at the $19.99. The retailer's revenue is: A) $19. 99 B) 28.5 C) 99.95 D) 128.45 E) cannot be calculated with the information provided A D For convenience, pricing objectives can be divided into three categories. They are: A) refundable, competitive, and attainable B) perceived, actual, and unique-situational C) differentiated, niche, and undifferentiated D) profit oriented, sales oriented, and status quo E) monopolistic, fixed, and variable A D The pricing policy used by Middleton Industries, manufacturer of Renaissance charms for bracelets and necklaces, is to set prices so its retail prices are as high as the market will tolerate. Additionally, Middleton strives to keep its costs at an industry low by using silver and gold overlays over charms made of cheap base metal. This is an example of a _____ policy A) market share pricing B) profit maximization C) demand-oriented D) sales maximization E) status quo pricing A B The Fenton Company produces memorial bricks, which veterans' organizations, Chambers of Commerce, and other service organizations sell as fund raisers. The company has a target return on investment of 13 percent. This means that the Fenton Company has a(n) _____ pricing objective. A) profit-oriented B) market share maximization C) status quo D) sales maximization E) supply-demand equalization A A Grove City Furniture Company has recently moved to a new, larger location. At this new location, it has been unable to attract sufficient customers. Frankie Alonza, its owner, does not have the cash to pay the current loan installment due on the building and inventory. Alonza has decided to reduce all merchandise prices by at least 50 percent for a weekend sale so he can earn enough to make his loan payment. His pricing objective can be classified as: A) market share maximization B) satisfactory profits C) asset maximization D) sales maximization E) target ROI A D The price of the good or service is a key decision for a marketer because it most significantly and directly affects the product's: A) distribution B) costs C) demand D) promotion E) quality A C Concha y Toro, a Chilean wine, has reduced the price of one bottle from $10 to $8. It previously sold 420 bottles in the month prior to the price reduction, and it now sells 525 bottles per month. It is experiencing: A) consumer surplus B) inelastic demand C) elastic demand D) unitary elasticity E) a supply inelasticity A D When Nesco brand food dehydrators sold for $59.99, Nesco sold 90 dehydrators. When the company dropped the price of its dehydrators to $44.95, it sold 145
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CH17_Question - Money that is left over after paying for...

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