Fall%202010%20Final%20Exam%20Samples - Final Exam Sample...

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Here are 20% of the questions from the Final Exam. The (p. #) refers to the location in the textbook the test items are based on. (p. 400) In addition to being the sacrifice a consumer makes to acquire a good or service, price is: A. the competitive parity of personal consumption expenditures. B. the reaction of consumers to oligopolistic pricing. C. the reflection of price elasticity of supply. D. consumers guide to target profit pricing. E. an information cue, signaling level of quality. (p. 405) For which of the following is demand likely to be least sensitive to price increases? A. Spring break vacations. B. One brand of cereal. C. Prescription drugs. D. Movie theatre tickets. E. Upscale restaurant meals. (p. 431) A reference price is: A. the actual price. B. the price against which buyers compare the actual selling price. C. the bait and switch cost to the producer. D. a cumulative quantity discount price.
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Fall%202010%20Final%20Exam%20Samples - Final Exam Sample...

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