Bigbux is a major producer of whatsits, but it faces competition in the whatsit market from three other major producers. Together, Bigbux and its three large rivals control almost the entire supply of whatsits. The type of market Bigbux is in is called:

On an online ________ , prices change by the minute

A) buying alliance B) barter market C) systems seller D) spot market E) catalog site

La Belle released a cut glass bottle of perfume at $299 per item, even though its major competitor prices its signature scent at $99 per item. La Belle reasons that customers in search of luxury goods will prefer its product because they are likelier to believe that high price indicates superior quality. What price adjustment strategy is evident in its reasoning?

A) seasonal pricing B) time-based pricing C) captive product pricing D) psychological pricing E) location-based pricing