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Alexeev081 [22]
2 years ago
10

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she doe

s not know much about wine, she will likely use the price of the wines as:____________.
a. an indicator of the variety.
b. an indicator of quality.
c. a measure of scarcity.
d. a reflection of status quo pricing. e. a measure of the income effect.
Business
1 answer:
Fynjy0 [20]2 years ago
3 0

Answer:

b. an indicator of quality.

Explanation:

Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as an indicator of quality.

Value-based pricing is a strategy of setting prices primarily <u>based on a consumer's perceived value of a product or service. </u>

<u>Price is an Indicator of Value From a consumer's standpoint because it is often used to indicate value when it is compared with perceived benefits such as the quality .</u>

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When quanity demanded is completely responsive to price, what is the value of price
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Answer:

The value of price will be exactly what demand is willing to pay, without possibility of change.

Explanation:

We call that a perfectly elastic demand. When we have that kind of price elasticity, any change in price upwards will affect the demand, making it fall to almost zero. On the opposite, if we have a change in price downwards, the demand will not increase. Bread, books, and pencils are good examples of that.

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Read each question and choose the best answer. "How many millionaires do you know who have become wealthy by investing in saving
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A.

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Answer:

11.66 million

Explanation:

Annual Amortization Expense:

= Cost of acquiring at the beginning of the year ÷ 9-year life

= $42 million ÷ 9

= $4.67 million per year

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= Annual Amortization Expense × 4

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