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.
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For labor Plastibristle’s demand is most wage elastic at: (1) point a. (2) point b. (3) point c. (4) point d. Q : Wage rate by hiring labor by price taker A firm which is a price taker in the labor market will hire labor to the point where the wage rate is equals labor’s: (w) average output. (x) marginal revenue product. (y) average revenue product. (z) marginal physical product.<
A firm which is a price taker in the labor market will hire labor to the point where the wage rate is equals labor’s: (w) average output. (x) marginal revenue product. (y) average revenue product. (z) marginal physical product.<
If the wage rate increases from $10 per hour to $25 per hour, then the elasticity of the supply of labor from this worker is roughly: (1) zero. (2) 7/15. (3) one. (4) minus 8/15. Discover Q & A Leading Solution Library Avail More Than 1444817 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1933845 Asked 3,689 Active Tutors 1444817 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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