Q: What is price discrimination?Briefly explain the first,second,and third degree price discrimination.
A: Price discrimination(P.D) is a strategy where different prices are charged for different customers…
Q: Briefly explain how the total revenue for a profit-seeking firm is determined.
A: The amount of money a company makes by selling goods or services at a certain price is referred to…
Q: To calculate the change in total revenue from the price change, which method do you prefer? Hand…
A: Delta r formula because we will directly get the answer by the formula.
Q: (Figure: Market Power) Based on the demand curves for four sellers, which of the following firms has…
A: Answer (20): Part 1: A firm in perfect competition has no market power and they are price takers.…
Q: Suppose in a market of confectioneries, there are only four suppliers; Delizia, Sachas, La Farine…
A: Market supply - From the given table we can see that all four individual have linear relation ship…
Q: Refer to the demand schedule below. a. Use the following demand schedule to calculate total revenue…
A: Given Price P (in $) Quantity demanded TR MR 7.00 0 0 - 6.50 1 6.50 6.5 6.00 2 12 5.5…
Q: Darnell and Janet are debating the use of coupons by grocery stores. Darnell says, "The use of…
A: Coupons are indeed most effective to price discrimination. Companies set a high price of the product…
Q: The images below show the first six items you see when you search ‘laptops’ in Google Shopping.…
A: In the field of economics, the objective of any firm is assumed to be profit-maximization. The…
Q: HOW STARBUCKS USES PRICING STRATEGY FOR PROFIT MAXIMIZATION In January 2020, Starbucks…
A: There are lots of things to learn from the Starbucks case study but the main thing is how they…
Q: Sally runs a vegetable stand. The following table shows two points on the demand curve for the…
A: Answer - Given in the question - Price Quantity demanded per week $4 100,000 $2.75 200,00
Q: 10 MR 10 15 20 25 30 Quantity (surfboards per hour) Sue's Surfboards is the sole renter of…
A: (1) Sue's Surfboard is the sole renter of surfboards. According to given demand curve, 15 surfboard…
Q: Angie Mae has just finished recording her latest CD. Her record company's marketing department…
A: Marginal revenue is the revenue that the distributer procures when it distributes another unit of…
Q: In 1916, Henry Ford was quoted as saying the following: "There are men…
A: Since you have posted multiple questions, we will solve the first answer for you. If you want any…
Q: Answer the following questions based on the accompanying graph. Price ATC MC $50 $28 $18 MR 50 75…
A: As given, the above graph is of monopoly market where the demand curve is downward sloping which is…
Q: Suppose, you're going to open a new fast food business. Briefly discuss the factors that would…
A: When deciding to open up a fast-food restaurant, there are multiple factors that affect the pricing…
Q: Figure 11.4 Firm A Firm B ATC MC ATC D-M QUANTITY QUANTIT Firm C Firm D MC ATC ATC MR MR QUANTITY…
A: Marginal cost: Cost that is incurred on the production of an additional unit of output is Known as…
Q: Draw a graph of Pepsi company that related to the product differentiation.
A: Monopolistic competition: It has the features of both a monopoly and a perfectly competitive market.…
Q: The market for athletic shoes is intensely compeotitive. In 2016, the Sports Authority, one of the…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Illustrate using a supply and demand graph what happened to Netflix resulting from new competition,…
A: The demand and supply play an important role in determining the equilibrium price and quantity of a…
Q: а. Suppose in a market of confectioneries, there are only four suppliers; Delizia, Sachas, La Farine…
A: Supply refers to the willingness and ability of the producer to produce goods and services at…
Q: The following tables show the tea market supply and demand schedules of three countries. • Use the…
A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…
Q: Calculate Nick's marginal revenue and marginal cost for the first seven shirts he produces, and plot…
A: Introduction Here Nick runs a small business that manufactures shirt. Shirt market is a competitive…
Q: Why does Google care whether people think it is large or small? Do highway billboards actually…
A: Google takes note that the billboards on the highways are very big since, when updating Google maps,…
Q: In one paragraph, explain the pricing factor of competitor pricing. Why does what the competitors…
A: Competitive pricing can be defined as the way of selecting strategic prices so that they can take…
Q: Use the diagram above to answer the next two questions: 1. What is the profit-maximizing price and…
A: A monopoly firm opeartes at the intersection point of MR and MC in order to maximize profit Hence,…
Q: 5. In 2011 the European Commission fined Proctor & Gamble and Unilever 315 million euros for…
A: In many countries, government intervene in the market to restrict the unfair pr illegal action of…
Q: Why LRATC curve is u-shaped? Under which market structure, firm operates at the downward sloping…
A: The market has a large number of buyers and sellers in the market. The buyers and sellers sin the…
Q: Calculate Nick's marginal revenue and marginal cost for the first seven shirts he produces, and plot…
A: Q TC TR Profit MC MR 0 15 0 -15 1 30 20 -10 15 20 2 40…
Q: Suppose in a market of confectioneries, there are only four suppliers; Delizia, Sachas, La Farine…
A: Since you have asked multiple questions, we will solve the first question for you. If you want a…
Q: Sally runs a vegetable stand The following table shows two points on the demand curve for the…
A: Answer - Given in the question - Price Quantity demanded per week 4 100,000 2.75 200,000…
Q: The total revenue of a fimm decreased after an increase of the price of the goods it sells. Explain…
A: Total revenue of the firm decreased means the number of Quantity sold is decreased or either we say…
Q: For each of the following, is the business a price-taking producer? Explain your answers. a. A…
A: Price takers should acknowledge/accept the overarching market price and sell every unit at a similar…
Q: 6 In 1916, Henry Ford was quoted as saying the following: "There are men who…
A: Given At the price of $440, the total number of car sold = 500,000 At the price of $360, the total…
Q: e the following graph for a competitive market to answer the question below. The horizontal axis…
A: A price floor to be binding always set below the equilbirum price. The equilibrium price is where…
Q: 2. The demand curve facing a competitive firm The following graph shows the daily market for large…
A: Perfect competition refers to the situation where there are large number of prouder and consumers…
Q: Suppose in a market of confectioneries, there are only four suppliers; Delizia, Sachas, La Farine…
A: a) Price Delizia Qs (S1) Sachas Qs (S2) La Farine Qs (S3) Pie in the Sky Qs (S4)…
Q: O See Hint The graph below shows the marginal cost curve for two firms, A and B. Assuming these two…
A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…
Q: Sally runs a vegetable stand The following table shows two points on the demand curve for the…
A: Marginal revenue is nothing but the additional amount of revenue when one extra unit of output is…
Q: II. Refer to the accompanying figure to answer the next four questions. Price ATC MC MR E H Quantity…
A: The markets are the place where the buyers of various goods, and services interact, and meet with…
Q: Choose two pricing strategies that were discussed in Chapter (Pricing Strategies for Firms with…
A: "Since you have asked two questions, we will answer only first question for you. If you have any…
Q: Marketers refer to the unique combination of marketing activit used to encourage and facilitate…
A: The four Ps of advertising are product, price, place, and promotion. These are the key factors…
Q: Briefly explain in 300 words the 4 levels of marketing channels with example
A: Channel is a medium used by retailers and other expected middle persons to move merchandise from the…
Step by step
Solved in 2 steps
- Briefly explain each of the following types of pricing strategy, and give an example of a good or service that is sold using that pricing strategy. bundling loss leadingBriefly explain each of the following types of pricing strategy, and give an example of a good or service that is sold using that pricing strategy. Block pricing. Two-part pricing. Multi-period pricing. Loss leading.Alex's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania. Initially, Alex produced eight fire engines, but he has decided to increase production to nine fire engines. The following graph shows the demand curve Alex faces. As you can see, to sell the additional engine, Alex must lower his price from $75,000 to $50,000 pe fire engine. Note that while Alex gains revenue from the additional engine he sells, he a loses revenue from the initial eight engines because he sells them all at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenu lost from the initial eight engines by selling at $50,000 rather than $75,000. Then use t green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $50,000. PRICE (Thousands of dollars per fire engine) 250 200 175 150 125 100 25 Alex 1 O True 3 S 7 QUANTITY (Fire engines) False Demand Revenue Lost Revenue…
- The following graph shows the dally demand curve for blkes in Denver. Use the green rectangle (trlangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 120 110 100 Total Revenue 90 80 70 60 50 40 30 20 10 Demand 16 24 32 40 48 56 64 72 80 88 QUANTITY (Bikes) On the following graph, use the green point (triangle symbol) to piot the annual total revenue when the market price is $20, $30, $40, $50, $60, $70, and $80 per bike. 2770 2580 Tetal Revenue 2390 2200 W 2010 3 1920 1630 1440 1250 1060 30 40 50 50 70 80 90 100 110 120 PRICE (Dollars per bike) 10 20 According to the midpoint method, the price elasticity of demand between polnts A and B is approximately- Suppose the price of bikes Is currently $20 per blke, shown as point B on the Initlal graph. Because the demand between polnts A and B is v a $10-per-bike Increase in price will lead to v In total revenue per day. In general, In order for a…8. Examples of price discrimination Brian and Eleanor are debating the use of coupons by grocery stores. Brian says, "The use of coupons in grocery stores represents a means of price discrimination. It's pure and simple. Coupons do reduce the price of groceries, but mostly to people who are less likely to buy at the full price." By contrast, Eleanor contends, "Coupons do not constitute price discrimination. They simply represent a way of temporarily changing the prices of some grocery items. Coupons reduce the price for everyone, not just for those who are price sensitive." Economists generally agree withThe following graph shows the daily demand curve for bippitybops in Detroit. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bippitybop) OTAL REVENUE (Dollars) 2400 1600 100 90 1200 80 1000 70 800 60 50 40 30 20 2200 + 10 2000 + 1800 + 0 1400 + Calculate the daily total revenue when the market price is $90, $80, $70, $60, $50, $40, $30, and $20 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph. (?) 0 ** B Demand 80 10 20 30 40 50 60 70 QUANTITY (Bippitybops per day) 90 100 Total Revenue A ? Total Revenue
- List and explain the three kinds of pricing methods. Give an advantage and a disadvantage for each method.Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. Price ($) 40 36 32 28 24 20 16 12 8 4 8 12 16 20 24 28 32 36 40 Quantity per period Search 3 of 6 SAMSUNG Next > 4Use a diagram to describe block pricing of a supermarket product
- Page |6 4. Calculate demand functions with different intercept and draw on graph. Qd = 1,400 – 10P Odz = 1,700 – 10P Qdz= 1,100 – 10P 160 140 Demand = 1,400 – 10P 1.700 – 10P | 1.100 – 10P Price Demandz = Demand; = 120 100 20 40 80 60 60 80 100 40 120 20 F 140 160 1000 1100 1200 400 500 600 700 900 5. Calculate demand functions with different intercept and draw on graph. Qs = -400 – 20P Os2 =-100 – 20P Qs3 =-700 – 20P 160 140 120 Supply = -400 + 20P Supply2 = -100 + 20P Supply; = -700 + 20P Price 100 80 20 40 60 60 So 40 100 | 120 | 140 | 160 20 P 400 500 600 700 800 900 1000 1100 1200What is the effect of demand aggregation on consumers?The following graph shows the daily demand curve for bikes in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 240 220 200 Total Revenue 180 160 140 120 100 80 60 40 20 Demand 9 18 27 36 45 54 63 72 81 90 99 108 QUANTITY (Bikes) PRICE (Dollars per bike)