please help me solve the 5 questions.

Questions 1 Which of the four approaches to setting a price does Carmex use for its products? Should one ap- proach be used exclusively? 2 Why do many Carmex product prices end in "9"? What type of pricing is this called? What should happen to demand when this approach is used? 3 Should cost be a factor in Carmex's prices? What do you think is a reasonable markup for Carmex and for its retailers? 4 What is the difference between an EDLP retailer and a high-low retailer? Why does Carmex charge them different prices? 5 Conduct an online search of lip balm products and compare the price of a Carmex product with three similar products from competitors. How do you think the competitors are setting their prices? "We are so excited about the future of Carmex," says Hodgdon. "We are planning new products, we have new plans for retailers, and the future is nothing but bright!"26 Questions 1 Which of the four approaches to setting a price does Carmex use for its products? Should one ap- proach be used exclusively? 2 Why do many Carmex product prices end in "*"? What type of pricing is this called? What should happen to demand when this approach is used? 3 Should cost be a factor in Carmex's prices? What do you think is a reasonable markup for Carmex and for its retailers? 4 What is the difference between an EDLP retailer and a high-low retailer? Why does Carmex charge them different prices? 5 Conduct an online search of lip balm products and compare the price of a Carmex product with three similar products from competitors. How do you think the competitors are setting their prices? hapter Notes 1. This example is based on information and data contained in "The State of Ebooks 2017," www.econtengmag.com, January 18, 2017, "What Amazon's E-book Numbers Are and Aren't Telling You," www.latimes.com, August 4, 2014; "HarperCol- lins and Amazon in Multiyear Publishing Deal," www.nytimes. com, April 13, 2015; and Lin Hao and Ming Fan, "An Analysis of Pricing Models in the Electronic Book Market," MIS Quar terly 38, no. 4 (2014), pp. 1017-32. 2. "Amazon Tablet Market Share Surges, Thanks to its Low Cost Slates," Investor's Business Daily, March 3, 2016, p. 6. 3. The conditions favoring skimming versus penetration pricing are described in Kent B. Monroe, Pricing: Making Profitable Decisions deed (Burr Ride IL McGmw.Hirwin, 2003). 14. "2017 Convenience Store Sales Data," www.espdailynews.com April 21, 2017 15. "The Promise--and Perils of Dynamic Pricing," Knowledge Wharton, February 23, 2016. 16. Utpal M. Dholakia, "The Risks of Changing Your Prices Too Often," www.hbr.org, July 5, 2015. 17. "A Fare Shake," The Economist, May 14, 2016, p. 68; and "The Price Is Right, or Uber Will Raise It" www.bloombergview. com, May 19, 2015. 18. This discussion is based on Kent B. Monroe, Pricing: Making Profitable Decisions, 3rd ed. (Burr Ridge, IL: McGraw-Hill Irwin, 2003), pp. 396-97; and "New iPhone Tests Economic Then The Wall Swelowal Sentember 182017 A2 Questions 1 Which of the four approaches to setting a price does Carmex use for its products? Should one ap- proach be used exclusively? 2 Why do many Carmex product prices end in "9"? What type of pricing is this called? What should happen to demand when this approach is used? 3 Should cost be a factor in Carmex's prices? What do you think is a reasonable markup for Carmex and for its retailers? 4 What is the difference between an EDLP retailer and a high-low retailer? Why does Carmex charge them different prices? 5 Conduct an online search of lip balm products and compare the price of a Carmex product with three similar products from competitors. How do you think the competitors are setting their prices? "We are so excited about the future of Carmex," says Hodgdon. "We are planning new products, we have new plans for retailers, and the future is nothing but bright!"26 Questions 1 Which of the four approaches to setting a price does Carmex use for its products? Should one ap- proach be used exclusively? 2 Why do many Carmex product prices end in "*"? What type of pricing is this called? What should happen to demand when this approach is used? 3 Should cost be a factor in Carmex's prices? What do you think is a reasonable markup for Carmex and for its retailers? 4 What is the difference between an EDLP retailer and a high-low retailer? Why does Carmex charge them different prices? 5 Conduct an online search of lip balm products and compare the price of a Carmex product with three similar products from competitors. How do you think the competitors are setting their prices? hapter Notes 1. This example is based on information and data contained in "The State of Ebooks 2017," www.econtengmag.com, January 18, 2017, "What Amazon's E-book Numbers Are and Aren't Telling You," www.latimes.com, August 4, 2014; "HarperCol- lins and Amazon in Multiyear Publishing Deal," www.nytimes. com, April 13, 2015; and Lin Hao and Ming Fan, "An Analysis of Pricing Models in the Electronic Book Market," MIS Quar terly 38, no. 4 (2014), pp. 1017-32. 2. "Amazon Tablet Market Share Surges, Thanks to its Low Cost Slates," Investor's Business Daily, March 3, 2016, p. 6. 3. The conditions favoring skimming versus penetration pricing are described in Kent B. Monroe, Pricing: Making Profitable Decisions deed (Burr Ride IL McGmw.Hirwin, 2003). 14. "2017 Convenience Store Sales Data," www.espdailynews.com April 21, 2017 15. "The Promise--and Perils of Dynamic Pricing," Knowledge Wharton, February 23, 2016. 16. Utpal M. Dholakia, "The Risks of Changing Your Prices Too Often," www.hbr.org, July 5, 2015. 17. "A Fare Shake," The Economist, May 14, 2016, p. 68; and "The Price Is Right, or Uber Will Raise It" www.bloombergview. com, May 19, 2015. 18. This discussion is based on Kent B. Monroe, Pricing: Making Profitable Decisions, 3rd ed. (Burr Ridge, IL: McGraw-Hill Irwin, 2003), pp. 396-97; and "New iPhone Tests Economic Then The Wall Swelowal Sentember 182017 A2