76. If Procter&Gamble; were to introduce a value-priced brand of laundry deterge

Question

76. If Procter&Gamble; were to introduce a value-priced brand of laundry detergent, they should: just emphasize the low price battempt to convince consumers the lower-priced brand offers comparable quality to higher-priced products. e demonstrate the prestige the consumer gets along with this product. d. attempt to eliminate competition by offering high discounts and free coupons with its introductory package 77. Pricing objectives that seek to develop and maintain an image of quality and exclusiveness so as to appeal to st consumers are objectives. a. profitability b. volume e meeting competition d. ge 78. Which of the following is a reason why Seattle's bus system offers free service in the downtown area of the city a. Recover operating costs b. Provide market incentives e. Increase revenue collection d. Increase gasoline consumption 79. An example of a customary price would be: a. S10 for a pair of 3-D glasses at the movies. b $459 for a color TV e $1 to park in the lot at Hartwell Field-the same price it's been since 1958. d. $27,500 for a 2006 Toyota Camry. 80. In which of the following types of market structures would a producer have the least amount of flexibility in setting prices? d. Pure competition bMonopolistic competition COligopoly d. Monopoly 81. Which market structure best describes the U.S. auto industry? . Pure competition b Monopolistic competition d. Oligopoly 82. An example of a firm most likely engaged in monopolistic competition is: American Airlines. b General Motors Corporation. e Aluminum Corporation of America (Alcoa) d. Macy's department store

Explanation / Answer

76. b. Attempt to convince consumers the lower-priced brand offers comparable quality to higher priced products.

77. d. Prestige.

78. b. Provide market incentives.

79. c. $ 1 to park in the lot at Hartwell Field - the same price it has been been since 1958.

80. a. Pure Competition.

81. d. Oligopoly.

82. d. Macy's Department Store.

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