Which of the following should be true for a skimming price to be successful?
A) Target consumers should be price sensitive.
B) Supply should exceed demand.
C) Demand must be stabilizing.
D) The producer should use intensive distribution.
E) There should be little chance that competitors can quickly enter the market.
E
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Mark owns a bar. The bar has a back room where Mark has some slot machines. Mark lets some of his patrons play the machines, and Mark keeps any profits
This type of gambling is illegal where Mark lives. Mark wanted to purchase insurance in case his slot machines were confiscated by the police. Such an insurance contract would not be enforceable. Which requirement needed to form a valid insurance contract is missing? A) consideration B) offer and acceptance C) legal purpose D) competent parties
Kim purchased a one-year property insurance policy. She agreed to pay half the premium when she bought the coverage, and the other half six months later
If Kim fails to pay the second premium, the insurer cannot sue her for the premium because insurance contracts are A) unilateral contracts. B) contracts of adhesion. C) personal contracts. D) aleatory contracts.