Question 49 2 pts Identify a statement that is true of status quo pricing. It leads to optimal pricing of a product. O It requires serious planning and is difficult to implement. It focuses on the demand for and the costs of a product. O It can lead to a pricing disaster.

Question 50 2 pts The airline industry alters the price of its seats based on the type of seat, the number of seats remaining, and the amount of time before the flight departs. This is an example of markup pricing keystoning dynamic pricing status quo pricing

Question 47 2 pts During the 2020 COVID-19 pandemic, millions of people lost their jobs and lost dignity as they were forced to rely on government assistance. Many students lost time as classes and proctored exams were cancelled. These examples show that price, "that which is sacrificed." usually refers to money, but it can be other things as well O refers to a loss of money does not refer to a loss of time excludes the need to wait to make a purchase

Question 48 2 pts Which of the following is true of establishing pricing goals? Pricing objectives are either profit oriented or sales oriented if they are to serve company objectives. Reaching the desired market share must not entail sacrificing short-term profits because every dollar counts. A profit maximization objective may require a bigger Initial investment than the form can commit to or wants to commit to Pricing objectives rarely have trade-offs and thus managers must set them ambitiously to capture the market.

Question 45 2 pts As reported in the Wall Street Journal, the CEO of Pilgrim's Pride Corp, one of the nation's biggest chicken producers, and three others were indicted for allegedly conspiring to decide how much they would charge for chicken sold to restaurants and grocery stores. This is an example of an unfair trade practice O price discrimination price fixing O predatory pricing

Question 46 2 pts Using a price skimming strategy, Apple stakes out a price and then maintains and defends that price by significantly increasing the value of their products in future iterations. Apple gives priority to profits over market share, making people starve for the new upgraded product Apple's price skimming strategy is most often used for a new product when competition in the market is abundant customers are unwilling to spend a large amount of money on the product the supply of the product is greater than its demand the product is perceived by the target market as having unique advantages