Universal Appliance prices its refrigerators at five distinct price levels based on finish, style, capacity, and features. They range from $799 to $9,500. This is an illustration of price steps.

Question

Quizplus · Accepted Answer

The fact that Universal Appliance prices its refrigerators at five distinct price levels indicates that they are using price steps, which involve setting prices at specific levels based on various product attributes.

Universal Appliance Prices Its Refrigerators at Five Distinct Price Levels