Factors governing prices and pricing decision
Illustrates the factors governing prices and pricing decision in briefly?
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Price is very significant to the buyer and the seller both. In that connection, this may be noted that within economic theory, two parties must be generally emphasized that is buyers and sellers. However, in practice, as pointed out by Oxenfeldt, exact other parties are also involved within the pricing process, that is Rival seller, middlemen & government and potential rivals. All such parties also exercise their affect in price determination.
Factors governing prices may be divided in internal factors and external factors.
As per most conventional theories of the labor market, the: (w) supply curve of labor is positively sloped since higher wages attract additional workers in the labor market. (x) firms should contend with increasing returns from additional employment.
Define the pricing of a new product.
The firm in this illustrated graph is clearly: (1) price taker in the sale of its output because of the shapes of the VMP and MRP curves. (2) price taker in the purchase of labor when this can hire as several workers as this chooses at roughly of $13 per hour. (3) mon
States the Extension and Contraction of Demand.
The value of the marginal product is: (w) MPP × MR. (x) MPP × P. (y) MPP × MC. (z) MPP × MRC. Can anybody suggest me the proper explanation for given problem regarding Economics
What are the reasons for adopting penetration price strategy?
While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Q : Maximizes profit by hiring labor A firm A firm maximizes profit through hiring labor at the point where labor’s: (1) marginal physical product equals its average physical product. (2) marginal revenue product equals its marginal resource cost. (3) rate of exploitation is greatest. (4)
A firm maximizes profit through hiring labor at the point where labor’s: (1) marginal physical product equals its average physical product. (2) marginal revenue product equals its marginal resource cost. (3) rate of exploitation is greatest. (4)
Describe briefly Cost Volume-Profit relationship?
The income effect of a small varies in the wage rate dominates the substitution effect for this worker at point: (w) point a. (x) point b. (y) point c. (z) point d. Discover Q & A Leading Solution Library Avail More Than 1451768 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1923162 Asked 3,689 Active Tutors 1451768 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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