Firms should begin their pricing decisions by:
a. assessing total marginal cost of the product
b. identifying the value drivers in each customer segment
c. researching the market price of competitors
d. none of the above
Question 2
The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified
b. more reckless drivers opt for cars with fewer safety devices
c. the contractor with the lowest bid for a is under-qualified
d. Initial Public Offerings (IPOs) seek investors when prospects look good
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