While the Prices for Most Wine Brands Were Falling, and Restaurants

While the prices for most wine brands were falling, and restaurants were canceling wine orders for bottles that cost over $25 apiece, Nickel & Nickel launched a new wine brand selling at $125 per bottle. There were already many less expensive wines on the market. Nickel & Nickel invited the sales staff of one of the largest wine distributors in the U.S. to attend a pre-release testing. This would be an example of:

A) price competition.
B) economic diversification.
C) market control.
D) nonprice competition.
E) price fixing.

Correct Answer:

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