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Questions and Answers
From the supplier's view, price - cost = profit. From the consumer's view, willingness to pay - price = gain.
From the supplier's view, price - cost = profit. From the consumer's view, willingness to pay - price = gain.
- True (correct)
- False
What is the difference between cost-based pricing and value-based pricing?
What is the difference between cost-based pricing and value-based pricing?
- Cost-based pricing and value-based pricing are the same thing.
- Cost-based pricing considers the cost of production, while value-based pricing considers the perceived value to the customer. (correct)
- Cost-based pricing considers the perceived value to the customer, while value-based pricing considers the cost of production.
- Cost-based pricing and value-based pricing are not mentioned in the text.
What is the difference between static pricing and dynamic pricing?
What is the difference between static pricing and dynamic pricing?
- Static pricing is when prices remain the same over time, while dynamic pricing is when prices change based on various factors. (correct)
- Static pricing is when prices change based on various factors, while dynamic pricing is when prices remain the same over time.
- Static pricing and dynamic pricing are not mentioned in the text.
- Static pricing and dynamic pricing are the same thing.
What is the difference between transparent pricing and opaque pricing?
What is the difference between transparent pricing and opaque pricing?
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What is rate parity in the context of pricing?
What is rate parity in the context of pricing?
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Which of the following is an example of a semi-fixed cost?
Which of the following is an example of a semi-fixed cost?
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True or False: Fixed cost of a business is fixed and will never change.
True or False: Fixed cost of a business is fixed and will never change.
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What is the behavior of charging every guest a special rate called?
What is the behavior of charging every guest a special rate called?
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Which of the following is NOT likely to be the opportunity cost of a student attending a class?
Which of the following is NOT likely to be the opportunity cost of a student attending a class?
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What is the break-even point?
What is the break-even point?
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