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Question: There are two ways to determine the price of a product. The finance dept. would say first determine the costs then add a mark-up and now you have a price. From this perspective as long as costs remain constant the product's price never changes. The marketing perspective however views cost as just one variable in the process of setting a price. From a marketing perspective, what are other variables that affect the price of a product? Discuss the different pricing strategies such as price skimming and penetration pricing and provide an example of a company that uses each of these strategies.
The domestic price of one bottle of rum in Trinidad is 15 Trinidadian dollars. According to PPP, what will the exchange rate between the two countries be?
You are an associate director in a 300-bed hospital located in an urban area of Cleveland OH. A sum of money is available for investment in the facility.
TT Drinks Company was established a hundred years ago and currently employs over 300 people. The company produces and sells a range of black, green and flavoured teas and fruit infusions. TT's last Director of Marketing was away from work with illnes..
In a system of money which is based on Fiat Money. Who or what backs up the money? In other words, who do we trust with our money? What is the Number #1 enemy of your money?
Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the calculation of implicit costs easier?
Define Absolute convergence in the Solow Growth Model. Define Conditional Convergence in the Solow Model.
In the short run if the output growth is just 2% for two years and the equation determining the real interest rate changes to: r=4.5-%?Y, what money growth rate should the Fed aim for to hit its inflation target in that period?
q1. a. distinguish between monetary policy instruments and monetary policy tools.b. describe any two key tools of
Are there any indications that the United States Declaration of Independence or Constitution or the 1689 English Bill of Rights influenced the National Assembly? If so, how?
Briefly explain why the three variables are appropriate explanatory variables to predict the consumption of services or why they are related to consumption.
Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce? What will be the deadweight loss created by this monopoly?
A monopoly would be expected to face an inelastic demand, as the product they sell has no direct substitutes
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