1) According to the table below, one cannot interpret that:

Group of answer choices

a. Revenues would be maximized at a price level of $3.31

b. 52% of potential customers find the price too high with at a price level of $3.31and would not attend,

c. The total revenue would be $1,768.42

d. The monthly costs is $3,000

2) The odd pricing strategy works best when you deal with a luxury product

Group of answer choices

a. True

b. False

3) Which of the following statements is FALSE?

Group of answer choices

a. Product A and Product B are complements. When the price of Product A decreases, the demand for Product B increases.

b. Product A and Product B are complements. When the price of Product A increases, the demand for Product B decreases.

c. Product A and Product B are substitutes. When the price of Product A decreases, the demand for Product B increases.

d. Product A and Product B are substitutes. When the price of Product A increases, the demand for Product B increases.

4) Other things equal, if a firm finds the demand for one of its products is inelastic, it can INCREASE its total revenues by:

Group of answer choices

a. Raising its price.

b. Lowering its price.

c. Reducing fixed costs.

d. Reducing variable costs.

5) Penetration pricing is intended to appeal to which market?

Group of answer choices

a. highly selective quality-seeking consumers

b. price-insensitive markets

c. the mass market

d. specialty goods markets