Walmart and Home Depot emphasize consistently low prices and eliminate most of the markdowns with strategy called everyday low pricing.
<h3>
What is everyday low price?</h3>
Everyday low price is a pricing strategy that assures customers of a cheap price all the time without forcing them to wait for discount price occasions or comparison shop. In addition to saving retail businesses the time and money required to mark down prices during sales, EDLP is also thought to increase customer loyalty. An EDLP retailer's price will typically fall between a high-low retailer's discounted price and its non-discounted price. It is typical for rival shops to divide the market into segments using various pricing heuristics. The segments are made up of two distinct groups of consumers with various buying habits for both final purchases and pre-purchase research. They are prepared to conduct research to find discounts and to stockpile goods when deals are available.
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29,208 I used a tax calculator
The answer is <span>The start-up costs in a monopolistically competitive industry are low.</span>
Answer:
Please refer explanation
Explanation:
A. Many small shops sell different styles of sweaters. Some stores sell higher-quality and more expensive sweaters then other stores.
1. many
2. differentiated
3. easy
4. price-searcher
Monopolistic competition is whereby there are many firms selling similar products and services but are not perfect substitutes. They may be different in quality, design or style. Barriers to entry are low and any one firm’s decision does not necessary affect all others. These firms tend to have limited price setting powers and they make use of heavy adverting and brand differentiation.
B. Hundreds of high school students who require tutoring in algebra choose among dozens of tutoring companies offering similar services.
1. many
2. standard
3. easy
4. price-taker
Perfect competition is a market structure where there are many firms selling homogenous or commodity products, such as a fruit or vegetable vendor. They do not have the ability to influence the price and they take the price that they receive. There is free flow of information between sellers and buyers regarding the goods sold as well as the prices of goods and services sold. Firms can easily enter and exit the market.
C. Four Internet providers offer similar services to almost everyone in the city. Any new company would have to engage in a price war with the existing companies.
1. few
2. standard
3. challenging
4. oligopoly
Oligopoly is an imperfect market structure with a small number of firms who are impacted by each other’s actions. Oligopolies may collide either explicitly or tacitly in order to restrict output or fix prices and achieve above normal market returns. Government policies and regulations are placed to encourage or discourage oligopolistic behavior and ensure that consumers are not exploited.
D. Only one pharmaceutical company has a government patent to sell an experimental drug.
1. one
2. unique
3. impossible
4. monopoly
A monopoly refers to a single company dominating the market in an industry. It has a proportionately large market share. This can be due to an absence of proper restraints. They have control of the price in the market for that product. There are very large batters to entry and exit, they exploit economies of scale and are able to make abnormal profits in the industry.
Answer:
Customer's (exit) = 0.03 minutes per person
Explanation:
Given:
Flow (Ф) = 400 per hour
Times = 5 times headway
Computation:
5 times Poisson Distribution = 400 per hour × 5 time
5 times Poisson Distribution = 2,000 persons
Computation of expected amount of time needed to observe one customer :
Customer's (exit) = 1 hour / 2,000 persons
Customer's (exit) = 60 minutes / 2,000 persons
Customer's (exit) = 0.03 minutes per person
