--%>

Explain the follow-up pricing

Explain the follow-up pricing.

E

Expert

Verified

Follow up pricing:

It is the most popular price policy. In this, a firm finds out the price policy as per the price policies of competitors. When the competitors decrease the price of the product, the firm also decreases the price of its product. When the competitors raise the price, the firm also follows similar.

   Related Questions in Managerial Economics

  • Q : Explain the meaning of price Explain

    Explain the meaning of price.

  • Q : Concept of derived demand The concept

    The concept of derived demand means that: (w) consumer demands for goods depend on the utilities received from their use. (x) firms’ demands for resources depend upon consumer demands for the goods produced. (y) governmental demands for social g

  • Q : Best Potential Efficiency Wages

    Attempts to decrease shirking by paying workers more than they could earn within their next best potential jobs involves: (1) screening. (2) corporate acculturation. (3) efficiency wages. (4) signaling. (5) collective bargaining. H

  • Q : States the Delphi Survey method of

    States the Delphi Survey method of Demand Forecasting?

  • Q : Estimate demand The Real Kool Toys

    The Real Kool Toys Company manufactures and sells educational toys. An empirical demand function for one of the firm's products has been estimated over the last 21 quarters using regression analysis. The estimated demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000)

  • Q : Elasticity of demand for labor and type

    The relationship between the elasticity of demand for labor and the elasticity of demand for a specific type of output the labor produces is: (1) uniformly negative. (2) uniformly positive. (3) zero. (4) curvilinear. (5) highly variab

  • Q : Backward Bending Labor Supplies The

    The graph for the supply of labor might be backward bending since: (w) the substitution effect surpasses the income effect at specific wages. (x) overtime workers receive pay for time and a half. (y) the substitution effect. (z) the income effect is m

  • Q : Determine what would contain in

    Please help me to solve the problem of economic that is given below: Economic capital would comprise: (w) corporate bonds. (x) money. (y) machinery. (z) sports cars. Can someone

  • Q : Shifting of market for productivity

    When the U.S. soybean market is primarily in equilibrium on S0D0, and in that case a new fertilizer raises farm productivity and concurrently, foreigners are permitted greater access to U.S. soybean, there the market shifts to: (

  • Q : Illustrates managerial Economics

    Illustrates the managerial Economics according to Michael Baye? Answer: In the words of Michael Baye as this term Managerial Economics is the study of how to directl