An important lesson about pricing is
a. Do not bargain with the customer
b. When bargaining with the customer, do not bargain over the bundled price, bargain over unit price
c. When bargaining with the customer, do not bargain over the unit price, bargain over the bundled price
d. Bargain with the customer over everything
c
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Why do we have to pay a price for most of the goods we consume?
What will be an ideal response?
Explain the concept of a risk premium. What purpose do risk premiums serve?
What will be an ideal response?
Human wealth is a function (i.e., affected by changes in) of which of the following variables?
A) future expected income B) future expected taxes C) current interest rates D) all of the above E) none of the above
Fair-trade standards guarantee:
A. Higher prices to producers that agree to pay their workers higher-than-market wages. B. That a country will restrict trade with other countries that impose unfair trade practices. C. That a country will not impose tariffs or quotas on imports. D. That a government will not intervene in the foreign currency market.