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Pricing is when a firm tries to determine the price

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16) __ pricing is when a firm tries to determine the price at which it will break even or make the profit it is seeking.A) Competition-basedB) Target returnC) Cost-plusD) Good-valueE) Value-added
17) The Fashion Store, a new startup, sets product prices so that revenues will equal manufacturing and marketingcosts. The pricing strategy used by the company is referred to as ________ pricing.
18) Which of the following statements about break-even analysis is most likely true?
D) It is a tool marketers use to examine the relationship between supply and demand.E) It fails to consider customer value and the relationship between price and demand.19) Which of the following is an external factor that affects pricing decisions?
20) Radox, a luxury watch brand, identifies a market segment that is willing to pay premium prices for its watches,and Radox managers select an ideal selling price. Managers then determine the costs to create watches that meetthe ideal selling price. The company's pricing approach is referred to as ________.A) Mass productionB) cost-plus pricingC) target costingD) value-added pricingE) target return pricing
21) In ________, the market consists of many buyers and sellers trading in a uniform commodity, such as wheat,copper, or financial securities.
22) There are more than 20 stores on a street in Sao Paulo that specialize in selling the same quality and brand ofwheat products. An individual seller cannot charge more than the going market price without the risk of losingbusiness to the other stores. What type of market does this example represent?
23) Under ________, the market consists of many buyers and sellers trading over a range of prices rather than a singlemarket price.

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