Question 4 5 pt: Dr. Cho is highly critical of a comment made by Clark Barr, Barr said that an entrepreneur should overcharge for a product because you can always drop the price later. Dr. Cho believes this is wrong because: This path is limiting because it set boundaries on profit margins There may not be a tomorrow to drop the price Dr. Cho is wrong; the extra profit could be kicked back to the distributors to boost sales Pricing is highly emotional and negative backlash can be created if the price is seen as exorbitant or it customer who paid more finds out it's less Question 5 5 pts The lowest price I can charge is likely to be based on: My costs plus a profit The equilibrium point of supply and demand The perception of value from my customers A margin of at least 50% 5 pts Question 6 Can product or distribution affect price? Pick the weakest answer. Yes. For example, more feature on a product may allow you to charge more. Yes, price is solely based on profit margin Yes, a distribution channel that offers faster service support can alter price Yes, my product features allow me to position it as a luxury item or a commodity