This topic contains a solution. Click here to go to the answer

Author Question: When might a firm use a price-skimming strategy? When might it use penetration pricing? Describe ... (Read 58 times)

fasfsadfdsfa

  • Hero Member
  • *****
  • Posts: 554
When might a firm use a price-skimming strategy? When might it use penetration pricing? Describe each strategy.

Question 2

An economic system in which individuals and businesses make the decisions about what to produce and what to buy, and the market determines how much is sold and at what prices, is called a ____ economy.
 A) product
  B) producer's
  C) market
  D) planned
  E) command



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bbburns21

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

Price skimming is the strategy of charging the highest possible price for a product during the introduction stage of its life-cycle. If a company introduces a new, innovative product and wants to skim the cream off the market or when a high price would hold down demand which may be limited in the introduction stage, a company may use price skimming.

Answer to Question 2

C




fasfsadfdsfa

  • Member
  • Posts: 554
Reply 2 on: Jul 14, 2018
YES! Correct, THANKS for helping me on my review


laurnthompson

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

For a complete list of videos, visit our video library