Which of the following options BEST describes an example of price lining?
A) Having the price of each individual song on an online music store be determined by length of song
B) Having the price of each individual song on an online music store be determined by popularity of the band
C) Having the price of each individual song on an online music store be determined by user auction
D) Having the price of each individual song on an online music store be determined by reverse auction
E) Having the price of each individual song on an online music store be determined by which of several categories the song falls into
Answer: E
Explanation: E) With price lining, a retailer predetermines three or four price points at which a particular product will be sold.
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The fees charged by financial institutions for annuities may include all of the following except
A) management fees. B) surrender charges. C) insurance fees or commissions. D) no-load annuity fees.
The average weekly earnings of bus drivers in a city are $950 (that is ?) with a standard deviation of $45 (that is ?). Assume that we select a random sample of 81 bus drivers
a. Compute the standard error of the mean. b. What is the probability that the sample mean will be greater than $960? c. If the population of bus drivers consisted of 400 drivers, what would be the standard error of the mean?