The sensitivity of consumers to price changes is measured by the _____
a. input-output coefficient
b. coefficient of substitution
c. law of demand
d. price elasticity of demand
d
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Which level of management is responsible for controlling day-to-day operations?
a. top management b. middle management c. operations management d. executive management
In the EPQ model, ______.
A. the larger the quantity produced from each production setup, the fewer the production runs are needed to meet demand B. the smaller the quantity produced from each production setup, the fewer the production runs are needed to meet demand C. the larger the quantity produced from each production setup, the fewer the production runs are needed to avoid stock-outs D. the smaller the quantity produced from each production setup, the fewer the production runs are needed to avoid stock-outs
The Hart-Scott-Rodino Antitrust Improvement Act led to rules requiring:
A) That violators of antitrust laws be liable for treble damages. B) That mergers be allowed if United States competitiveness in world markets is improved. C) That certain activities are classified as per se violations. D) That the Federal Trade Commission and the Justice Department be notified in advance of any merger involving certain firms. E) That failing companies be rescued through mergers whenever possible.
Some retailers feel that their potential customers find certain prices appealing but that prices within certain ranges are seen as roughly the same, and thus price cuts within a given range will not increase the quantity sold (i.e., the demand curve is vertical within these "same price" ranges). These retailers would probably use ________ if they want to maximize profit.
A. prestige pricing B. bait pricing C. leader pricing D. psychological pricing E. average-cost pricing