A retailer should price his products high initially and later reduce them if:
a. local competition is abundant.
b. the sales volume is so high that the average per-unit sold is substantially lowered.
c. the retailer has no competition at all.
d. the retailer has a temporary monopoly with its product line.
e. demand is less than supply over the short-run.
Question 2
When an M.B.A. graduate receives a letter telling her the rank in the graduation class of M.B.A.s that she received based on her grade-point average, what type of scale is this?
a. Nominal scale
b. Classificatory scale
c. Face validity scale
d. Rank-order
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"The Department of Agriculture came out today with its prediction for food price