What is an organization using when it sets its prices so that total revenue is as large as possible relative to total costs?

a. sales maximization
b. profit maximization
c. status quo pricing
d. market share pricing

Ans: b. profit maximization

Business

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Save-A-Lot has become one of the most successful grocery chains by serving the poor and offering low prices. This is an example of

a. focus strategy. b. premium pricing. c. product differentiation d. cost leadership

Business

In Communications Workers v Beck, the Supreme Court held that dues-paying nonunion members can demand a rebate for any union expenditure not related strictly to collective bargaining

Indicate whether the statement is true or false

Business