When an organization sets a number of prices for selected groups of merchandise, this is commonly referred to as
A) prestige pricing.
B) price lining.
C) customary pricing.
D) odd-even pricing.
E) ethical pricing.

Question

Quizplus · Accepted Answer

Price lining is the practice of setting a range of prices for a specific group of merchandise where each product falls into a specific price category. This helps customers perceive the value of each product, and makes it easier for them to choose which one they want to buy based on their budget.

When an Organization Sets a Number of Prices for Selected