Question :
111.If a firm unable to keep its national markets separate, : 1299512
111.If a firm is unable to keep its national markets separate, individuals or businesses may undercut its attempt at price discrimination by engaging in _____.
A. speculation
B. arbitrage
C. dumping
D. countertrade
E. forecasting
112.In which of the following conditions does arbitrage occur?
A. When a firm offers a product at low prices through discount coupons and promotions
B. When a firm sells a product at higher prices to make a profit from relatively fewer sales
C. When a firm imports products from a manufacturer and distributes it directly through retail outlets
D. When a firm purchases products in a country where prices are lower and resells it in a country where prices are higher
E. When a firm prices its products at the least cost, risking losses, in order to grab market share
113.A measure of the responsiveness of demand for a product to changes in price is known as _____.
A. the demand to price ratio
B. demand and price dynamics
C. price-demand rigidity
D. demand function of pricing
E. price elasticity of demand
114.Demand is said to be _____ when a small change in price produces a large change in demand.
A. elastic
B. inelastic
C. relative
D. rigid
E. dynamic
115.When a large change in price produces only a small change in demand, demand is said to be _____.
A. flexible
B. consistent
C. inelastic
D. elastic
E. dynamic
116.Which of the following is true of price discrimination as a part of international pricing strategy?
A. The more competitors there are, the lesser consumers’ bargaining power will be.
B. The more competitors there are, the less likely consumers will be to buy from the firm that charges the lowest price.
C. A firm may charge a higher price for its product in a country where competition is limited than in one where competition is intense.
D. Many competitors cause low elasticity of demand.
E. If a firm raises its prices above those of its competitors, consumers will refuse to switch to the competitors’ products.
117.Which of the following is true of price elasticity of demand?
A. The price elasticity of demand is only defined by the competitive conditions in a country.
B. Demand is said to be inelastic when a large change in price produces a small change in demand.
C. Demand is said to be elastic when a large change in price produces a small change in demand.
D. Price elasticity tends to be greater in countries with low income levels.
E. The elasticity of demand is inversely proportional to the number of competitors offering a particular product.
118.The use of price as a competitive weapon to drive weaker competitors out of a national market is known as _____.
A. multipoint pricing
B. predatory pricing
C. leader pricing
D. price discrimination
E. price skimming
119._____ refers to the fact that a firm’s pricing strategy in one market may have an impact on its rivals’ pricing strategy in another market.
A. Dumping
B. Predatory pricing
C. Leader pricing
D. Multipoint pricing
E. Price skimming
120.Which of the following is true of multipoint pricing?
A. It involves aggressive pricing in one market to elicit a competitive response from a rival in another market.
B. It involves a firm pricing its products at a loss in order to drive out competitors from the market.
C. It involves buying products at a cheaper rate in one country and selling those at a higher price in another country.
D. It involves allowing markets to determine the pricing of a product.
E. It involves pricing two similar products at low and high prices in order to boost sales of the lower priced products.
or Waypoint 
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