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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Quiz Final Exam

Quiz Final Exam

Q Question 1 2 / 2 pts The general rule to increase profits when two close substitute brands are jointly owned is Question 2 2 / 2 pts For products like parking lots and hotels, costs of building capacity are mostly fixed or sunk and firms in this industry typically face capacity constraints. Therefore, Question 3 2 / 2 pts A football stadium has a fixed number of seats. Given this, how should stadium management determine ticket prices? Question 4 2 / 2 pts A firm that acquires a substitute product can try to reduce inter-product cannibalization by Question 5 2 / 2 pts All of the following are true, except Question 6 2 / 2 pts When deciding what price to charge customers, a firm may choose to charge different prices based on customers’

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Increase prices for both brands If SRMR>SRMC at capacity, then the firms should price to fill capacity Both A&C Repositioning its product or the substitute so that they do not directly compete with each other Promotional campaigns do not affect consumer’s perception on quality