Define the term cost plus pricing
Define the term cost plus pricing.
Expert
Cost plus pricing:
It is the most common method used for price. In this method, the price is fixed to envelop all costs and a predetermined percentage of profit that is the price is computed by adding an exact percentage to the cost of the product per unit. Such method is also termed as margin pricing or full costs pricing or say average cost pricing or may mark up pricing. The business firm in oligopoly and monopolistic market are given this pricing policy.
What is Scarcity Definition of economics?
If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid
Government policy is probably to help raise the total supply of human capital within the long run through: (w) increased public education and retraining programs. (x) minimum wage legislation. (y) laws prohibiting discrimination in employment. (z) str
When the substitution effect of a wage raise dominates the income effect, in that case the: (1) labor supply curve will be "backward bending." (2) value of the marginal product will exceed the wage rate. (3) labor force participation
Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce
Gilligan is hiring new workers to help run his Island Getaway resort. Gilligan makes a decision that he will not hire a new worker unless they have been properly trained and certified into wilderness survival and have a license by the government to operate watercraft.
Define the term full cost concept.
Differentiate between extension/contraction and shift in demand?
When this purely competitive labor market is primarily in equilibrium at D0L, S0L, a move to equilibrium at D0L, S1L would be probably to follow from increases in: (w) rates of technological advance. (x) the cost of living. (y) labor force participati
A purely competitive resource market shows that an individual firm faces a resource supply curve which is: (w) perfectly inelastic. (x) perfectly elastic. (y) downward sloping. (z) backward bending. Discover Q & A Leading Solution Library Avail More Than 1418676 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1944052 Asked 3,689 Active Tutors 1418676 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1944052 Asked
3,689
Active Tutors
1418676
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!