No because they can get a positive consumer surplus buying the noname brand

No because they can get a positive consumer surplus

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No, because they can get a positive consumer surplus buying the no­name brand Answers: a. Yes, because they value it at $100 b. No, because they value it at $70 c. No, because they can get a positive consumer surplus buying the no­name brand d. All of the above Question 16 Use the following table for questions 50­57 Cooking Wok Value to home users Value to professional Chefs No­name brand $50 $60 High­end professional series $70 $100 Given that the firm decides to only offer the high­end wok, what is the highest price it can charge the chefs? Selected Answer: b. $100 Answers: a. $70 b. $100 c. $80 d. $90 5 out of 5 points 5 out of 5 points
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6/29/2016 Review Test Submission: Week 4­Chp 13/14 Quiz – ... ... 6/7 Question 17 Which of the following is an example of a “damaged goods” strategy Selected Answer: a. A supermarket offers free parking space but charges higher for groceries Answers: a. A supermarket offers free parking space but charges higher for groceries b. A television reseller spends time making sure that the picture quality of the bargain priced sets is fuzzy c. A gift store hikes up the prices on gift wrapping services during its seasonal sale d. All of the above Question 18 Which of the following is an example of price discrimination? Selected Answer: d. All of the above Answers: a. Seniors paying a lower price for tickets at movie theatres b. Students paying discounted rates on travel c. Tourists paying higher prices on local attractions than locals d. All of the above Question 19 Which of the following would not be illegal according to the Robinson­Patman Act Selected Answer: b. “Fred’s Farms” offering 50 cents off a crate of strawberries to retailers to match other suppliers with similar rates Answers: a. “Party Packers” getting 10cents off every pack of ribbon they buy after 1000 units b. “Fred’s Farms” offering 50 cents off a crate of strawberries to retailers to match other suppliers with similar rates c. “Sam’s Sandwiches” receiving 5 cents off per pound of cheese d. All of the above Question 20 When a grocery store offers discount coupons in Sunday papers, it is trying to Selected Answer: d. Price discriminate Answers: a. Undercut its competition b. Reward the frequent readers c. Provide a social service d. Price discriminate 0 out of 5 points 5 out of 5 points 5 out of 5 points 5 out of 5 points
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6/29/2016 Review Test Submission: Week 4­Chp 13/14 Quiz – ... ... 7/7 Wednesday, June 29, 2016 9:50:12 AM EDT OK
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  • Summer '16
  • Economics, 142857, Review Test Submission, Cooking Wok

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