MKT461 (MKT461)

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MKT 461/ MKT461 Exam 3 Practice Questions With Verified Answers

MKT 461/ MKT461 Exam 3 Practice Questions With Verified Answers
Exam (elaborations) • 15 pages • 2024

MKT Exam 3 Price elasticity - ANS: a measure of the effect a price change has on consumer demand; percentage change in demand divided by percentage change in price. Elastic vs. Inelastic - ANS: Elastic: describes demand that is very sensitive to a change in price Inelastic: Describes demand that is not very sensitive to a change in price MSRP - ANS: manufacturer's suggested retail price Price discrimination - ANS: the business practice of selling the same good at different prices...