Answer:
Cost-Plus
Explanation:
Cost plus pricing is a system of determining the selling price of an item by adding a determined amount called mark-up to the total cost of producing the item.Its purpose is to ensure that cost are fully recovered and profit are also made.
In a less competitive environment like Steinway's own , where pianos are being produced to the specification of waiting customers , this gives a good opportunity for cost plus marketing as threats from competitors are minimal or even nil.
Answer:
e. the expected marginal benefit exceeds expected marginal cost
Explanation:
Rational decision making refers to deciding in favor of those decisions which yield favorable results. The decision making process takes into account rational, unbiased objective thinking before opting for a course of action.
Marginal benefit refers to how much a consumer is willing to pay to consume an additional unit of output.
Marginal cost refers to the additional cost incurred when another unit of an output is produced.
A rational decision maker makes a change only in the scenario wherein, the marginal benefits derived from consuming a product exceed the marginal cost associated with the product.
Antitrust laws also referred to as competition laws, are statutes developed by the U.S. government to protect consumers from predatory business practices. They ensure that fair competition exists in an open-market economy.
Sophia should advise her senator to consider all aspects of patents and the economic impact on producers and consumers, to benefit everyone equally.
According to the information found by Sophia, the senator must take into account the most important information for the meeting with representatives of the pharmaceutical industry. For example, she must take into account that currently pharmaceutical companies already have a long reservation of their patents of maximum of 25 years in which they recover the money invested and earn billions of dollars.
However, this is not enough because pharmaceutical companies also lose about 1.3 billion on some drugs. After all, only 2 out of 10 drugs put on the market are profitable.
According to the foregoing, it would be fair for pharmaceutical companies to extend the term of exclusivity of patents because this time would bring them greater profits that would balance the great possibilities of loss that they have with other research and with drugs that go on the market.
Learn more about patent in: brainly.com/question/13896945
