Question 11. Craftarium, Inc. makes and sells beaded purses, jackets, slippers, and other fashion items. Which of the following is the BEST example of one of its fixed costs? payment on leased delivery vehicles purse handles unbeaded jackets packaging for kits advertisements in fashion magazines10 points Question 21. Procter & Gamble dropped the price of Pringles Potato Chips in the Southeast due to price competition and consumer demand. As a result of the price reduction, Procter & Gamble increased unit sales and earnings by 10 percent due to: price wars with other snack food makers increases in both supply and demand elasticity of demand price demand determinants market share fluctuations10 points Question 31. Furr Friends sells kits for making personalized grave markers for pets. The company sells each kit for $22. The average variable cost for each kit is $13, and the total annual fixed costs for plant operation are $78,300. What is the break-even point in units? 3,559 6,023 8,700 2,237 none of the other answers10 points Question 41. The pricing policy used by Middleton Industries, manufacturer of Renaissance charms for bracelets and necklaces, is to set prices so the its retail prices are as high as the market will tolerate. Additionally, Middleton strives to keep its costs at an industry low by using silver and gold overlays over charms made of cheap base metal. This is an example of a _____ policy market share pricing profit maximization demand-oriented sales maximization status quo pricing10 points Question 51. As a short-term pricing objective, _____ can be effectively used on a temporary basis to sell off excessive inventory. profit maximization profit-oriented pricing status quo pricing sales maximization market share pricing10 points Question 61. Richelieu Foods, Inc. decided to offer a much larger than customary profit margin to grocery wholesalers and retailers on its new line of organic pizzas. This pricing strategy is designed to do all of the following EXCEPT: encourage retailers to advertise this high-margin item give dealers an incentive to promote the new organic pizzas develop wide and convenient distribution maximize profit margin for the producer encourage trial by consumers if the pizzas are priced low by retailers10 points Question 71. At Wal-Mart, Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer. The items, which were sold together, retailed at $28.50, but were marked down to $19.99. The retailer sold one at the $28.50 price and five at the $19.99. The retailer’s revenue is: $19. 99 $28.50 $99.95 $128.45 cannot be calculated with the information provided10 points Question 81. Franz Hall wants to open a business selling cotton candy from a mobile cart. He cannot decide whether to base his pricing objectives on market share, dollar sales, or unit sales. Regardless of which he chooses, his firm’s pricing objective can be categorized as: status quo profit oriented need oriented cost oriented sales oriented10 points Question 91. The advertisements for Bernard Hinault brand bicycles claim that it is the most expensive bicycle in the world. This is an example of _____ pricing. target return prestige market share maintained markup profit maximization10 points Question 101. Hal Macini owner of Evergreen Landscaping is more interested in earning customer goodwill than striving for maximum profit. He determines his prices by maintaining the company’s profitability at a level that gives him a good living but will never make him a rich man. Macini is basing his pricing policy on: maintaining stable sales levels earning satisfactory profits creating retained earnings creating the most sales possible decreasing consumer demand
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