Companies establish prices for their products

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Reference no: EM1313722

Q1. Subsequent are observations on the market price also the quantity of good X produced also consumed in three different years: $10 also 100 units, $4also 57 units also $8 also 88 units. Can we conclude which the market demand for X slopes upward?

Q2. Some companies establish prices for their products by marking up their full manufacturing cost (i.e., the sum of direct materials, direct labor also manufacturing overhead costs). For example, a organization may set prices at 150% of each product's full manufacturing cost. Does Toll Brothers price its houses using this approach?

Reference no: EM1313722

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