23. Colorful Concoctions, a maker of children's crayons, decided to price its boxes of crayons below the long-term market price. The rm agreed to reduce its prot margin from 30 percent to 5 percent in the short-term in order to increase market share and discourage other rms from entering the crayon market. Colorful Concoctions was implementing a a. variable pricing strategy. b. skimming price strategy. c. penetration pricing strategy. d. price lining strategy. ANS: C PTS: 1 REF: D. 426 OBJ: 16-3TYPE:A