Under the market consists of a few large sellers who

24) Under ________, the market consists of a few large sellers who are highly sensitive to each other's pricing and
marketing strategies.
A) Pure competition B) monopolistic competition C) oligopolistic competition
D) A pure monopoly E) a pure monopsony
25) The rel. between the price charged for a product and the resulting demand level can be shown in a ________. 26) When demand hardly changes with a small change in the price of a product, then the demand for the product is
best described as ________.
27) A firm uses ________ when it charges a high, premium price for a new product with the intention of reducing the
price in the future.
28) The strategy of setting a low initial price to attract a large number of buyers quickly and win a large market
share is referred to as ________.
A) market-skimming pricing B) market-penetration pricing C) value-added pricing
D) Target costing E) deceptive pricing
29. Which of the following is an economic factor that affects the pricing decisions of a company? 30) Which of the following conditions is most likely essential for implementing a successful market-skimming
pricing strategy for a product?

D) The product's price matches its manufacturing costs.
E) A low-price position of the product is maintained.
31. Which of the following conditions is most likely essential for implementing a successful market-penetration
pricing strategy for a product?
32. Qriosity Inc. released a new antivirus program at half-price to attract buyers. This is most likely an ex of ________.
A) market-skimming pricing B) market-penetration pricing C) optional-product pricing
D) By-product pricing E) allowance pricing