Answer:
True
Explanation:
Penetration pricing represents a marketing strategy employed by organisations with the goal of attracting customers to new products or services. These products or services are often offered at lower prices specifically to encourage people to test them and thus bring their awareness to the market, in other words, penetrate the market.
At times penetration pricing is not only used to acquaint consumers to a product, it is also used to thin out a competitor's customer base. Specifically, low prices and as stated in the question heavy couponing are strategies that are used to attract a wide number and range of customers to a product.
Lysol therefore, used penetration pricing based on low sales price and heavy couponing to attract consumers to its sanitizing wipes and when a satisfactory result had been achieved, the pricing rose and the couponing reduced. However, the consumer base is already established.
Answer: B. Each firm produces up to the point where the price of the good equals the marginal cost of producing the last unit.
Explanation:
Allocative efficiency means that the point chosen on the production possibility frontier is socially preferred.
In a perfectly competitive market, allocative efficency is achieved at the point where price equals the marginal cost of production. At this price producer and consumer surplus is maximised.
Answer:
BEP 378,000
Explanation:
60 - 24 = 36 contribution margin
every units contribution $36 dollars
36 / 60 = 0.6 CM ratio
each dollar of sale generate 60 cents of contribution
226,800 fixed cost / 0.6 CMR = 378,000 BEP in dollars
Explanation:
When I was in school grade 9, I had my first interaction with a robot during a visit to technology expo since then I could not think of anything else but to awe for exploring the fascinating world of robots.
I didn't had much resources to buy tools and components to build robots but still my passion kept me motivated and I found my way to get hands on scrap parts available at the various spots in my locality. Slowly and gradually, I kept learning and building robots and by the time I was in my high school, I had already won 3 major school competitions and received tremendous amount of recognition. Due to my outstanding performance, I was awarded with merit scholarship for the college.
In college, I continued my handwork and kept myself busy in exploring the depth of robotics. I had the pleasure of working on a big project funded by a our college. The project was to build a search and rescue quad-copter. Honestly speaking, it was not easy! I worked day and night tirelessly, and finally after 6 months I successfully built the quad-copter.
My goal is to become an inventor in the field of robotics. Building such robots that can make a difference in our lives and help humanity to grow and thrive. I believe that engineering program at Princeton encourages such passion and vision and would be a great learning platform for me to showcase my talent and skills.