Explain the follow-up pricing
Explain the follow-up pricing.
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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.
What are the advantages and disadvantage of naive method?
States the Scarcity Definition in economics?
If the owner of a resource is paid in excess of the minimum needed to supply specified amounts of the resource, in that case the owner is the beneficiary of: (1) economic rents. (2) wage premiums. (3) excess profits. (4) surplus values. (5) capitaliza
Illustrates the causes of business cycle?
Why is wealth definition of economics criticized?
This supply of labor of worker is perfectly inelastic at point: (w) point a. (x) point b. (y) point c. (z) point d. Q : Explain the Geometric Method of Explain the Geometric Method of Measurement of Elasticity.
Explain the Geometric Method of Measurement of Elasticity.
Extra revenue by the extra output produced from an additional unit of a resource is the marginal resource: (1) profit to the firm. (2) revenue product. (3) iso-utility curve. (4) resource cost. (5) productive value. Q : Explain the Proportional Method of Explain the Proportional Method of Measurement of Elasticity.
Explain the Proportional Method of Measurement of Elasticity.
When this purely competitive labor market is primarily in equilibrium at of D0L, S0L, a shift to equilibrium at D2L, S0L would be probably to follow by increases in: (1) minimum wage laws. (2) imports of this good from forei
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