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- How might imperfect information impact price? Group of answer choices Buyers cannot distinguish which goods have a higher quality and might be less likely to pay higher prices for that good. Because buyers cannot determine the true quality of a product, they might tend to bid up the prices. Because they might not be able to present all the information about a product, sullers might temporarily lower the price to make potential buyers think the product is of excellent quality. Imperfect information might tend to cause prices to be perfectly elastic.Long detailed answer with proper pointsTo reduce and dampen information distortion, what should firms do? (select all that apply) Group of answer choices Reduced fixed costs related to ordering and transportation. Reduced replenishment lead time to decrease the uncertainty of demand during lead time. Encourage full TL transportation Reduce promotion to stabilize pricing Rationing based on proportion to the orders placed by buyers
- chapter 5 12. A buyer needs to average a 44% markup. She has purchased 25 flannel robes that cost $18.50 each and 32 fleece robes that cost $24 each. If she retails the flannel robes for $29 each, what must be the average retail for each fleece robe in order to achieve the planned markup? Present your answer with a dollar-sign, comma separator, and rounded to the penny (i.e. $1,250.88).Qpauestion on Business Ownership ) What are the responsibilities and obligations of partners in a partnership form of business ?Which of the following costs is a product cost? Depreciation of factory maintenance equipment. Salary of a clerk who handles customer billing. Insurance on a company showroom where customers can view new products. Cost of a seminar concerning tax law updates that was attended by the company's controller.