Question
16, Which of the following is NOT true of the break-even point? Multiple Choice It represents the point where a firm's profits is equal to
16,
Which of the following is NOT true of the break-even point?
Multiple Choice
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It represents the point where a firm's profits is equal to zero.
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It represents the point where a firm's revenue is equal total costs
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It represents the point where the sales revenue equals the total costs of a product.
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It represents the number of units required to be produced to meet the annual profit goal.
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It represents the number of units required to cover both variable and fix costs.
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17,
Snails Inc., a 10-year-old bookstore situated in New York, recently launched an online store that offers uniform delivered pricing to all its customers across the globe. It also offers all the books from the previous year at a discount. Which of the following statements about Snails and its customers is true in this case?
Multiple Choice
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Customers from Canada are likely to pay a lesser shipping price than those in Asia.
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Snails uses rebates to wholesalers and retailers that deal with its books.
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Books from the previous year are offered at a size discount.
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Snails uses price bundling to offer older goods to customers when it delivers them for at a standard shipping price.
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Customers from Mexico are likely to pay the same shipping price as those from China.
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18,
A strategy of selling a new product or service at a high price that innovators and early adopters are willing to pay to obtain is called:
Multiple Choice
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price fixing.
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price skimming.
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price discrimination.
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bait and switch.
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predatory pricing.
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19,
Which of the following occurs when only a few firms providing a particular product or service dominate a market?
Multiple Choice
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Duopoly
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Monopsony
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Oligopoly
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Monopoly
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Oligopsony
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20,
Which of the following is NOT a benefit offered by kiosks?
Multiple Choice
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Access to loyalty program information
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The ability to personalize the information for each customer in an economical way
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Broader selection
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Access to wish lists and gift registries
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Access to items online that are out of stock in stores
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