The _____ contract is generally used in plant and equipment maintenance agreements, where the supplier cannot determine accurate costs prior to the repair service.
a. fixed-price with redetermination
b. firm fixed price
c. cost-sharing
d. time and materials
e. cost plus fixed-fee
Question 2
For some product categories, customers simply have come to expect finding products priced at customary levels. The expected prices for such products are referred to as:
a. Price lines.
b. Price points.
c. Standard prices.
d. Promotional prices.
e. Psychological prices.