Explain the role of demand factor in pricing briefly
Explain the role of demand factor in pricing briefly.
Expert
In the case of pricing of a product, demand plays a significant role. In several cases demand occupies a very important role than cost. A demand is the factor which finds out the sales and profit. We identify as per law of demand, demand and price have inverse association. To raise the demand, the firm has to reduce the price. Likewise to decrease the demand the firm has to raise the price. There elasticity of demand is to be considered with determining the price of the product. When the demand for the product is elastic, the firm can fix lower price. When the demand is inelastic then the firm can fix a higher price.
Within a purely competitive labor market, there the firm: (w) sets the wage that the household should accept. (x) should accept the wage demanded by the household. (y) and household arrive at the wage by bargaining. (z) and household should take the e
Production broadly happens while: (1) a corporation creates a profit. (2) weather disperses economic bads within the environment. (3) knowledge is used to direct energy to change materials and raise their value. (4) resources are combined within a bal
Occupational licensing often requires qualifications with small relevance for performance in a specific position before an individual can legally be hired. Artificial and inefficient barriers to the practice of specific occupations, such as dog groome
The demand curve for labor can be demonstrated as a negative relationship between: (w) the quantity of labor demanded and the wage rate. (x) labor productivity and the quantity of labor used. (y) employment and output. (z) wages and GDP.
After vacationing hundreds of restaurants, then a restaurant critic has concluded which in almost all the workers who clear tables and also wash dishes appear to be illegal aliens by Mexico. The critic has observed a phenomenon termed as: (1) marginalized labor. (2) t
Illustrates the fixed and variable inputs in economics?
What are the operational or internal issues of managerial economics?
Help to achive the other objectives of the firm like industry leadership,expansion implementation of policies
In countries employing decentralized markets for nearly all decision making: (1) Private individuals select how most resources and goods are allocated. (2) Nonhuman resources should be individually owned. (3) Elaborate economic plans are planned and enforced by law. (
This supply of labor of worker is perfectly inelastic at point: (w) point a. (x) point b. (y) point c. (z) point d. Discover Q & A Leading Solution Library Avail More Than 1417126 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923022 Asked 3,689 Active Tutors 1417126 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1923022 Asked
3,689
Active Tutors
1417126
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!