Question 2 (1 point) Suppose that a retailer pays $10 for a shirt and then apples a 80 percent markup. The retailer will set the initial price at $18 $28 $16 O $22 Question 3 (1 point) Suppose that a retailer pays $20 for a wireless router and then applies a 50 percent gross margin. The retailer will set the initial price at $30 $35 $40 $45 Question 4 (1 point) One advantage of cost-based pricing is that it can be used to maximize the total profits. True STA False Question 4 (1 point) One advantage of cost-based pricing is that it can be used to maximize the total profits. True False Question 5 (1 point) Firms using competition-based pricing should focus on all the different prices from their competitors. True False Question 6 (1 point) The reference value is the price of a product that consumers are willing to pay. AL True False Question 6 (1 point) The reference value is the price of a product that consumers are willing to pay. True False Question 7 (1 point) Firms using the customer-based pricing method should set the product's price at a level that is below its value to the customer. True False Question 8 (1 point) Customer-based pricing is more common than cost-based and competition-based pricing. AL True False ent.docx Question 9 (1 point) All of the following are potentials of customer-based pricing EXCEPT: Avoid parity pricing. Guide product development. Determine different customer values for different market segments. All of the above are potentials of customer-based pricing. Question 10 (1 point) A product can have both positive and negative differentiation values. True False