Queeg Industries sells all types of artists' paint brushes.When the owner of Queeg learned that Patterson Art,one of its biggest competitors,had lowered its prices on all synthetic brushes by 5 percent,he did the same.This is an example of what type of pricing?
A) status quo
B) cost-plus
C) market share
D) predatory

Question

Quizplus · Accepted Answer

This is an example of status quo pricing, where a company sets its prices based on what competitors are doing to maintain its position in the market, rather than trying to undercut competitors or significantly outprice them.

Queeg Industries Sells All Types of Artists' Paint Brushes