Illustrates marginal cost pricing and differential pricing
Illustrates the marginal cost pricing and differential pricing?
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Marginal cost pricing:
In the marginal cost pricing, the price is found on the basis of marginal cost or variable cost. Under this method, all fixed costs are fully excluded.Differential pricing:
In this method, the same product is sold at various prices to different customers, in various places, and at various periods. This method is termed as price discrimination or discriminatory pricing. Illustrations are as: Cinema Theater and telephone bills.
Differentiate between Private Cost and Social Cost.
The concept of derived demand means that: (w) consumer demands for goods depend on the utilities received from their use. (x) firms’ demands for resources depend upon consumer demands for the goods produced. (y) governmental demands for social g
When a firm does not influence the wage rate no matter how many workers this hires, then: (1) MRPL = MRCL for all feasible output levels for the firm. (2) MRCL = MPPL for all feasible output levels for the firm. (3) MPPL = MRPL for all feasible output
French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su
Demand is probable to be most wage elastic at prevailing wages for: (1) carpenters. (2) neurosurgeons. (3) computer programmers. (4) teenage employees of fast food restaurants. (5) economists. Can someone explain/h
Average female wages are historically beneath the average for male workers due to: (w) concentration in low income occupations. (x) placement in low status job positions. (y) lower admission in professional schools and skilled trades.
Illustrates the important leading indices?
When a firm is a price taker in the labor market, in that case the: (w) wage is constant for any quantity of labor this would hire. (x) marginal resource cost of labor is constant for any quantity of labor this would hire. (y) wage equals the marginal
Illustrates the meaning of Demand?
The arc elasticity of Plastibristle’s demand for labor in between point c and point d is approximately: (1) 0.375. (3) 0.545. (4) 0.833. (4) 1.200 (5) 2.000. Discover Q & A Leading Solution Library Avail More Than 1413243 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1958813 Asked 3,689 Active Tutors 1413243 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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