A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager's permission to reduce price below a specific threshold. This solution would only work if
a. The marketing manager has no information about the matter at hand
b. The marketing manager can only get all the information on the case from the sales agent
c. Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction
d. All of the above
Question 2
The demand for Dell laptops is more price elastic than the demand for laptops as whole. This is best explained by
a. There are fewer substitutes for Dell laptops than for laptops as whole
b. There are more substitutes for Dell laptops than for laptops as whole
c. Dell laptops are luxurious goods
d. Dell laptops are a necessity
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