Marketers determine markups based partly on their judgments of:
a. the amount that a competitor charges for a given product.
b. the amount that consumers will pay for a given product.
c. the amount that can be charged as per the ideal pricing strategy for a given product.
d. the amount that can be charged for additional profit.
Question 2
Scott was asked to participate in a research study, but he said he did not want to participate. In research terms, Scott is a:
a. sampling error.
b. biased respondent.
c. no contact.
d. refusal.
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