--%>

Illustrates the pricing policies briefly

Illustrates the pricing policies briefly?

E

Expert

Verified

Price should not be too high or lower. Price setting is a complicated problem. The pricing decision is dangerous not only in the beginning but this should be reviewed and reformulated from time to time.

Price policies give the guidelines within that pricing strategy is formulated and implemented. This represents the general frame work in that pricing decision is taken. These are those management guidelines that as control the day to day pricing decision like a means of meeting the objectives of the firm as maximization of sales, maximization of profit,  targeted rate of return, meeting or preventing competition and survival as well as stability of prices.

   Related Questions in Managerial Economics

  • Q : Higher Legal Minimum Wage Laws

    Enactment through the U.S. Congress of an extensively higher legal minimum wage would be probably to benefit: (i) American college professors. (ii) high-school dropouts in their teens. (iii) relatively unskilled foreign workers whose production is exp

  • Q : PROFIT THEORIES OF ECONOMICS I HAVE A

    I HAVE A PROBLEM ANSWERING A QUESTION:'REVIEW THE ECONOMIC THEORIES OF ECONOMICS'

  • Q : Hiring additional workers exceeds the

    One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x

  • Q : State the assumptions of Law of Demand

    State the assumptions of Law of Demand?

  • Q : Explain important specific functions of

    Explain the important specific functions of material economics?

  • Q : Wage Rates and Opportunity Costs

    Reasons why workers are often paid more than they could make in their best alternative positions do not include: (1) human capital valued by many firms. (2) membership in a union along with a labor contract. (3) holding a minimum wage job when most unskilled workers a

  • Q : Illustrates managerial Economics

    Illustrates the managerial Economics according to Michael Baye? Answer: In the words of Michael Baye as this term Managerial Economics is the study of how to directl

  • Q : Describe the term Incremental Revenue

    Describe the term Incremental Revenue in details.

  • Q : Income Effects and Substitution Effects

    When the substitution effect of a higher wage rate is more powerful than the income effect, in that case the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases as income rises. (3) human capital eff

  • Q : Forecasting demand what are the

    what are the criteria for good forecasting