The introductory price for the Nintendo Gamecube video game console was $100 lower than the list price of Xbox and Playstation 2, its only two competitors. Given this information, you can assume Nintendo used what type of policy for its Gamecube?
a. cost bundling
b. flexible pricing
c. penetration pricing
d. competitive skimming
Ans: c. penetration pricing
Business
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Which of the following was the first administrative agency created by the United States Congress
A. The Interstate Commerce Commission (ICC) B. The Occupational Safety and Health Administration (OSHA) C. The Food and Drug Administration (FDA) D. The Internal Revenue Service (IRS)
Business
Which mechanism for the development of a technical standard was in effect when nylon and polyester emerged as the dominant designs in synthetic fiber?
a. nature of technology b. chance occurrence c. government imposition d. competition between firms
Business