--%>

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 : Minimum supply to specified amounts of

    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

  • Q : Average Variable Cost Profit

    A purely competitive firm which hires more workers while the value of the marginal product of labor increases above the competitively set wage rate will absolutely experience increases in its: (i) overhead costs. (ii) profit per unit.

  • Q : Spencer and Sieglemans definition of

    What is Spencer and Siegleman’s definition of Managerial economics?

  • Q : Process of Automation Automation is the

    Automation is the process of: (1) adapting equipment which is safer for workers to operate. (2) kinetic engineering which smoothes flows of work on an assembly line. (3) scientific management of robotic factories. (4) substituting sophisticated machin

  • Q : Statements about Human Capital Which of

    Which of the given statements is not CORRECT: (w) Acquiring productive skills is known as investment in human capital. (x) General training increases a worker’s marginal productivity equally for many firms. (y) Specific training increases the productivity of the

  • Q : Illustrates the economies of scale are

    Illustrates the economies of scale are categorization?

  • Q : Higher rates of unemployment Higher

    Higher rates of unemployment in between nurses, clerical workers and teachers are a likely consequence when a government policy is adopted based on the doctrine of: (1) comparable worth. (2) equal marginal productivity per dollar. (3) equal pay for eq

  • Q : Illustrates the reasons for charging

    Illustrates the reasons for charging skimming price strategy?

  • Q : Concept of marginal costing In what

    In what condition the concept of marginal costing basically applied?

  • Q : Define the term full cost concept

    Define the term full cost concept.