Question 1 When consumers are very sensitive to the price change of a product. the demand for it is prioe elastic :3 True '3' False Question 2 Frioe is the onlv marketing mix variable or part of the offering that generates revenue. (:3 True Q False Question 3 Maximizing sales is tvpicallv a long-term objective since protabilitv is considered. '3' True [I] False Question 4 Competitor pricing has an impact on a rm's pricing decisions. (:3 True GI False Question 5 What are the steps in the pricing framework