Price Elasticity Scenarios quiz sharpens your command of pricing levers. Test yourself and see how each tactic influences revenue.
A product with elasticity of −0.2 is considered ______.
unit elastic
perfectly elastic
inelastic
elastic
inelastic relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
If revenue falls after a price increase, demand was likely ______.
unitary (=1)
perfectly inelastic
elastic (>1)
inelastic (<1)
elastic (>1) relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Cross‑elasticity between butter and margarine is positive, indicating they are ______.
unrelated goods
substitutes
Giffen goods
complements
substitutes relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Bundle discounts often reduce observed elasticity by adding ______ value.
perceived
marginal cost
sunk
switching
perceived relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Luxury brands keep demand inelastic through ______ scarcity cues.
artificial
technological
geographical
supply‑chain
artificial relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Dynamic apps measure micro‑elasticity across ______ segments daily.
SKU
cohort
POS
DSP
cohort relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
When price drops lead to higher total costs due to capacity strain, elasticity calculations must include ______ cost effects.
marginal
fixed
sunk
opportunity
marginal relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Subscription services boost retention by lowering annual plan price, banking on elasticity over ______ horizon.
contract
trial
impression
session
contract relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Price ceilings on essential drugs assume demand is ______.
perfectly inelastic
price sensitive for insurers
infinite elastic
unitary for patients
price sensitive for insurers relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
An elasticity of −1 indicates total revenue will ______ if price changes.
stay the same
collapse
decrease
increase
stay the same relates directly to the concept at hand, while the other options are common confusions. Understanding the nuance helps refine pricing decisions.
Starter
Pricing basics still feel new—keep practicing.
Solid
You understand most moves; refine the edge cases.
Expert!
You wield price psychology like a pro.
