The sensitivity of consumers to price changes is measured by?

The sensitivity of consumers to price changes is measured by?

1) The sensitivity of consumers to price changes is measured by the ________.

2) A relatively small percentage change in the price of a computer results in large percentage changes in the number of units purchased for a retailer. The price elasticity of demand for computers can be described as ________.

3) When the price elasticity of demand is high and prices go up, total ________.

4) When the price elasticity of demand is unitary and prices go down, total ________.

5) Price elasticity of demand is negative since ________.

6) Horizontal price fixing involves an agreement ________.

7) In vertical price fixing, ________.

8) The intent of vertical price-fixing legislation was to protect ________.

9) Manufacturers and wholesalers can legally control retail prices by ________.

10) Price-discrimination legislation is designed to limit the ability of ________.

11) Price discrimination is legal under the Robinson-Patman Act when ________.

12) In predatory pricing, large retailers attempt to destroy smaller retailers by ________.

13) Retailers typically use loss leaders to ________.

14) Unit pricing laws are necessary because of ________.

15) Item price removal enables supermarkets to ________.

16) A retailer typically has no intention of selling a promoted good or service in ________.

17) Which strategy does not enable a retailer to control retail prices?

18) In selling against the brand, ________.

19) In price guarantees, a manufacturer protects a retailer by ________.

20) Individual retailers have no control over the setting of retail prices in ________.

21) A retailer able to develop a strongly differentiated retail mix can utilize ________.

22) An aggressive low-price strategy designed to sell a high volume of goods is ________.

23) Market penetration is an appropriate strategy when ________.

24) The price floor represents the ________.

25) Which of the following suggests that too low a price may hinder demand?

26) The most widely practiced retail pricing technique is ________.

27) Markups in retailing are typically computed on the basis of ________.

28) The difference between initial markups and maintained markups is due to ________.

29) Direct product profitability (DPP) is an example of ________.

30) Which pricing strategy seeks to stabilize demand throughout the year?

31) A retailer that seeks to alter prices to reflect fluctuations in costs or consumer demand should practice ________.

32) The opposite of setting prices by negotiation or bargaining is ________.

33) In which pricing technique does a retailer advertise and sell key items in the product assortment at less than the usual profit margin?

34) A retailer sells men’s suits for $179, $229, $309, and $359. This illustrates ________.

35) A major advantage of an early markdown policy is that ________.

36) Price elasticity is ________ when the urgency for a purchase is low and the number of acceptable substitutes is high.

37) Total demand for a movie drops from 400 to 350 units when a theater operator increases the ticket price for a popular movie from $7 to $9. Price elasticity of demand (expressed as a positive number) equals ________.

38) When a stationery store increases its price for a popular computer notebook from $1,000 to $1,250, its quantity demanded decreases from 400 to 250 per month. Its price elasticity of demand (expressed as a positive number) equals ________.

39) A negatively-sloped demand curve means that ________.

40) The difference between horizontal price fixing and vertical price fixing is based on ________.

41) Many manufacturers feel that vertical price fixing should be legal since it protects ________.

42) The Robinson-Patman Act was developed to ________.

43) Loss leaders are viewed as being particularly attractive by many retailers since they ________.

44) A key difference between a loss leader and leader pricing is based upon whether ________.

45) A key difference between loss leaders and bait-and-switch advertising is based upon whether ________.

46) The key difference between bait-and-switch advertising and “trading the customer up” to a more expensive substitute is that in “trading the customer up,” the advertised low-price good ________.

47) Selling against the brand and private labels are two strategies retailers use to ________.

48) A retailer has the least control over retail price setting in ________.

49) Administered pricing utilizes ________.

50) Administered pricing can be used in association with ________.