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Pricing Schools Business

Features Pricing Schools Business

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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.

True (correct)

False

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?

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?

Transparent pricing is when prices are clearly visible and easily understood by customers, while opaque pricing is when prices are hidden or not easily understood. (D) Signup and view all the answers

What is rate parity in the context of pricing?

Rate parity refers to the equal pricing of a product across different distribution channels. (C) Signup and view all the answers

Which of the following is an example of a semi-fixed cost?

Tuition fee of a class (D) Signup and view all the answers

True or False: Fixed cost of a business is fixed and will never change.

False (A) Signup and view all the answers

What is the behavior of charging every guest a special rate called?

First degree price discrimination (C) Signup and view all the answers

Which of the following is NOT likely to be the opportunity cost of a student attending a class?

Two hours salary at Starbucks (B) Signup and view all the answers

What is the break-even point?

The point where total revenue equals total cost (B) Signup and view all the answers