Illustrates the pricing policy and practices
Illustrates the pricing policy and practices?
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Formulating price policies and setting the price are the very significant aspects of managerial decision making. Actually, price is the source of revenue that the firm seeks to maximize. So again, this is the most significant device a firm can utilize to expand the market. When the price is set more high, a seller may price himself out of the market. When it is lower, his income may not cover costs, or at best, fall short of what this could be. Conversely, if the Company prices too much, this will make fewer sales. If this charges too little, this will sacrifice profits. Therefore, the price must be fixed judiciously.
What are the external factors in governing prices?
Disadvantaged groups have historically been pressured toward low wage jobs in a procedure termed as: (1) occupational crowding. (2) labor staggering. (3) systemic discrimination. (4) reverse favoritism. (5) nepotism. Q : Least wage elastic demand for labor For For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Managerial slack and x-inefficiency A A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti
For labor Plastibristle’s demand for labor is least wage elastic at: (i) point a. (ii) point b. (iii) point c. (iv) point d. Q : Managerial slack and x-inefficiency A A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti
A firm along with extreme managerial slack (i.e., X-inefficiency) can best survive when, it: (1) maximizes its economic profits. (2) spends large amounts on marketing and advertising. (3) has important market power and faces little potential competiti
When the marginal revenue product of the last worker hired is superior to the marginal resource cost of the worker, in that case the firm: (w) is experiencing increasing returns to scale. (x) can increase its profits by hiring more la
Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce
A supply of specialized labor tends to shrink while: (1) the social status of that field rises. (2) an increase in income expectations happens. (3) employment stability increases and training costs decrease. (4) wages rise into a field using similar s
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All else identical, a competitive firm will demand more labor when: (w) technological advances lead to automation. (x) the price of the firm’s output rises. (y) more firms enter the industry. (z) competing firms offer their workers more training
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