Most firms operate in monopolistic competition, where products and whole marketing mixes are not exactly the same. This implies that
A. there are pricing options.
B. value pricing has no advantage.
C. it's foolish to offer products above the market price.
D. there are no price choices in most markets.
E. it is better to be a price follower.
Answer: A. there are pricing options.
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Just-in-time costing is also known as ________
A) job costing B) batch costing C) backflush costing D) process costing
A buyer is unfamiliar with the concept of discount points and asks a licensee to explain. The licensee responds " Discount points are used to replace funds that are being held by the Federal Reserve, so that more funds are available to lend." Is that description correct?
A. No, discount points are used to increase yield for lenders who will sell the loans on the secondary market B. No, discount points are used to pay brokers' commissions C. Yes, banks hold discount points in escrow until sufficient funds have been accumulated to make more loans D. Yes, discount points lower interest rates, which make loans more affordable for everyone