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Chapter 11 student file

Chapter 11 student file - MKTG 2201 INTRODUCTION TO...

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MKTG 2201- INTRODUCTION TO MARKETING Quiz for Chapter 11 Qi Sun
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Chapter 11: Price the Product 1. ____d____ are the sum of the ________ and ________ for any given level of production. a. Fixed costs; variable; total costs b. Fixed costs; total; variable costs c. Variable costs; fixed; total costs d. Total costs; fixed; variable costs e. Break-even costs; fixed; total costs 2. In a market with ____b____, there are many sellers each offering a slightly different product over a range of prices. a. pure competition b. monopolistic competition c. oligopolistic competition d. a pure monopoly e. socialism 3. A firm is using a(n) ____d____ strategy when it introduces a product at a very low price to encourage rapid product adoption. 4. Which of the following is a reason that a marketer would choose a penetration pricing strategy? ___e___ 5. A(n) ____d____ strategy is implemented when a store places two similar items next to each other, highlighting the fact that the price of one item is slightly lower than that of the other item.
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7. As a manufacturer increases price, the ____b____ drops. a. target b. break-even point c. marginal revenue d. total cost e. variable cost
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