Most firms operate in monopolistic competition

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Reference no: EM13301924

1. The following terms appeared on an invoice dated May 22nd, which was sent by a manufacturer to a retail store: 2/10, net 30. The amount of the invoice was $2,000. Assuming the retailer paid the invoice on June 1 (within 10 days after the products were delivered), how much should he have paid?

a. $1,900

b. $1,800

c. $2,040

d. 1,960

2. Most firms operate in monopolistic competition, where products and whole marketing mixes are not exactly the same. This implies that:

a. there are pricing options.

b. value pricing has no advantage.

c. it's foolish to offer products above the market price.

d. there are no price choices in most markets.

Reference no: EM13301924

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