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1 year ago

Assessing how customers in the target market evaluate price is the _______ stage in the pricing process.

1 answer:

6 0

Assessing how customers in the target market evaluate price is the second stage in the pricing process.

A company's pricing process is the amount it asks for its goods or services. As a result, the profitability of a business is directly related to the pricing decisions it makes. A product's pricing is determined by several variables, including its cost to produce, the intensity of competition, the state of the market, and the level of quality it offers. When determining the prices of its goods and services, a company should keep in mind the requirement to recover both the direct and indirect expenses associated with production and a reasonable profit. If the selling price of a product is below the company's operating expenses, the company will go bankrupt.

When setting prices for its wares, a company employs a variety of strategies and procedures. An efficient pricing strategy is one that maximises the surplus between the producer and the customer. A company's pricing plan should be practical, adaptable, and profitable.

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Suppose Nicholas owns a business making Christmas tree ornaments. Currently, he makes 300 ornaments a month. At this level of pr

Fudgin [204]

Solution and Explanation:

1. MC = Cost of raw material + Cost of time

MC = 5 plus (10 divide by 2)

MC = $10

2. TFC = $300

Q = 300 , AFC = TFC/Q = 300 divide by 300 = $1

3. His profit maximizing output would be higher

Reason: P = MR = $15 , MC = $10

Since MR > MC, and at the profit maximizing point MR = MC, it is better for Nicholas to increase his output.

4. His profit maximizing output would be higher

Reason: P = MR = $15 , MC = $4 + $5 = $9

Since MR > MC, and at the profit maximizing point MR = MC, it is better for Nicholas to increase his output.

3 0

3 years ago

An event management company is considering the position of head of customer relations. Among the group leaders, Ms Hoa Mr Lam ar

svetlana [45]

Answer:

ms Hoa

Explanation:

Ms Hoashould be chosen because she is an agile active person who has extensive relationships with customers and because the company is looking for a person to head the customer relations department she is better candidate than mr Lam

3 0

2 years ago

Read 2 more answers

Monumental, Inc. contracts with Champion Builders to erect a three-story office building on a parcel of land it has purchased. B

Elza [17]

Answer:

A) True

Explanation:

Monumental can discharge the contract by frustration. In order for a contract to be discharged by frustration, four conditions have to occur:

An unforeseeable event must occur: In this case the zoning changes were unforeseeable.
No party is at fault: the zoning board made the changes to the zoning of the land.
Performance is impossible: there is no reason why an office building should be built in a residential only area.
The result is radically different than expected: neither Monumental or Champion Builders expected a zoning change to occur.

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3 years ago

Draw a curve that shows the relationship between the tax rate and the amount of tax revenue collected. The relationship between

maw [93]

Answer:

Laffer curve.

Explanation:

Laffer Curve is developed by

Arthur Laffer. It is used to show the relationship between tax rates and the amount of tax revenue collected by governments of a particular country. Laffer curve is used to demonstrate Laffer’s argument that sometimes cutting tax rates can increase total tax revenue.

Laffer curve shows the relationship that occurs between the tax rate and the amount of tax revenue collected

The relationship between the tax rate and the amount of tax revenue collected is called the LAFFER CURVE curve. This curve shows that TAX CUT CAN INCREASE TAX REVENUE.

The drawing of a laffer curve has been attached

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3 years ago

You work for an airline that is expanding its service overseas and hiring several thousand new employees from the countries that

arsen [322]

Depending on where overseas is managers should get to know a little about the cultures, being bilingual would help both managers and employees. Hiring someone who can translate a number of languages would also be a benefit. I'd consider writing out the questions and getting them translated. Managers should come up with no more than 5 questions, it's going to be cumbersome already.

Cultural differences are bound to surface. Some of the ones I would learn about would be; eye contact, hand gestures, physical space, also practice matching there expressions.

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3 years ago