Charlie Ferragamo is a sales representative for the Season-All Spice Company and sells spices to large food service operations and restaurants. Charlie used to be able to justify selling his products for a higher price than the competition because he believed his spices were of higher quality. However, now the demand for individual brands of spices has become very elastic because buyers perceive few differences among the brands. One of Charlie's regular customers told Charlie that another spice company offered him a significantly lower price on spices, and he asked if Charlie could match the price. Charlie said, "I have to see a written price quote from the competitor. If I lower my price without seeing the price quote, I could be accused by my other customers of engaging in ________."
A. dumping
B. price grabbing
C. price fixing
D. zone pricing
E. price discrimination
Answer: E
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O'Bryan Company began the year with a balance of $18,000 in Salaries and Wages Payable and ended the year with $11,000 in the account. Salaries and Wages Expense for the period amounted to $91,000 . Under the direct method, O'Bryan will report cash payments for salaries and wages of:
a. $84,000 b. $102,000 c. $109,000 d. $98,000
Quasi-experimental designs are useful because they can be used in cases when true experimentation cannot, and because they are quicker and less expensive
Indicate whether the statement is true or false
Mary has already won her case at the U.S. Court of Appeals. When the case is reviewed by the Supreme Court, only eight judges are present. Four of the judges vote for Mary while the other four vote against her
Which of the following will be the result of this case? A) The case will be sent to the U.S. Court of Appeals for a review. B) Mary will win the case as she had already won at the U.S. Court of Appeals. C) The case will be reviewed again by the U.S. Supreme Court when all the judges are present. D) Mary will win and the case will set a precedent for later cases.
XYZ is a paint product manufacturer, and one of the plants is experiencing a substantial increase in demand. The future demand for the products could be low, medium, or high, with probabilities estimated to be 25%, 50%, and 30%, respectively. The company wants to determine the financial impact associated with the three decision alternatives under the varying levels of demand. Given the following payoff matrix, compute the expected value of decisions with perfect information.
A. $45.5 million
B. $53 million
C. $12.4 million
D. $70 million