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Price
9 pages (2250 words) , Download 2
...PRICE Introduction Price is a term that is commonly used in the business and economic world. In these two fields, price is used to mean the numerical value that is assigned to a good, service or an asset. This numerical value is tied to the monetary values of the good or services. Price is an important concept to microeconomics and it is one of the important variables that are considered in the allocation of resources for the operation of the business. When price is considered in terms of the allocation of resources then it is referred to in terms of the price theory. ...
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Price Strategy
2 pages (500 words)
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...PRICING STRATEGY In marketing, pricing strategy is the concept that attempts to identify the most suitable amount for a product in a business. The concept revolves around other related concepts commonly known as the four Ps, which are the "product, place, price, and promotion." It also relates to the concepts of market demand, the competition, the product characteristics, and the economic patterns. As a marketing manager, one must consider the concepts as it determines all the sales and the profits made within a business. The pricing strategy concept is one of the most critical components in marketing as it focuses on...
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Price Controls
11 pages (2750 words)
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...Price Controls Introduction Price controls are government interventions in the economy used to regulate prices. The intention behind developing price controls is to retain the affordability of products, prevent price increases during shortages, and to reduce the rate of inflation (Wise, 12). That is; price control is a form of government intervention in the country’s economy whereby the government agency utilizes its law-making power to regulate the prices at which otherwise voluntary private exchanges may take place. The two principal forms of price...
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Price Discrimination
15 pages (3750 words)
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...price discrimination. Explain the equilibrium solution to an industry that is able to practice perfect price discrimination. Ans: The conception of the consumer's surplus originated from the Marshallian theory of cardinal utility. Hence to establish the relationship between consumer's surplus and willingness to pay we have to go through the theory of cardinal utility and consumer's equilibrium in single commodity case. The cardinal theory of utility is based on the following assumptions. 1. Utility is cardinally measurable. 2. The utility derived from any commodity is measured by the amount of money... Demonstrate how the principle of willingness to pay underlies consumer surplus and the practice of...
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Promotion & Price
2 pages (500 words) , Download 1
...Price discounts to regular customers will be used in order to create loyalty among them. Price discounts can also be offered during off peak seasons in order to appeal to the interests of the customers. 24. ADVERTISING AND PROMOTIONS EFFECTIVENESS The effectiveness of advertising and promotion will be measured through observing the performance of the organisation. An increase... SLP for MD03 Basically, the service business being launched is an Event Management Company called Phoenix Event Management. The location for the business will be in the heart of the city’s corporate district. The following section of the paper outlines the measures that can be taken in the implementation of the business in...
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Price bubble
1 pages (500 words)
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...Price bubble Introduction Perhaps, one of the biggest challenges that contemporary central banking system experiences is the asset price bubble. Despite a widely known belief that prices in equity markets increase steadily over a long term, these markets have been showing strong swings in price being most likely to be unable to be justified by changes in the underlying economic fundamentals. This piece of paper summarizes the views Arlington W William that he wrote in his paper ‘price bubbles in large financial asset markets’. Major findings of the article As Williams (p. 242) wrote in his article, many literatures have already emphasized that financial asset markets showed price bubble...
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Price Elasticity
1 pages (250 words) , Download 1
...Price Elasti Discuss cross price elasti as it pertains to substitute goods and complementary goods Cross-price elasticity as it pertains to the demand generally measures good demand responsiveness to price change of another good. In most cases, cross-price elasticity of demand tends to measure the rate of quantity response that is demanded on a particular good because of price change of a different good (Tobin, 1987). In this case, substitute goods generally refer to a pair of goods in which the consumers consider alternative. On the other hand, complementary goods are those that are used together; one item is usable only when the other item is available. In this case... Macro and Microeconomics: Price...
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Price Analysis
2 pages (500 words)
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...Price Analysis Characteristics of government contracting that affect pricing and what is considered fair and reasonable pricing. Government contracting refers to how the government spends public funds. This requires a lot of transparency and accountability by the officers doing it. The constitution gives the government permission to enter into such contracts. Various characteristics of Government Contracting affect legal and competitive Pricing. Innovative techniques should be employed to ensure fairness in pricing to minimize risk to the government (Cibinic, Nash & Nagle, 2006). This is by using contract...
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Price Analysis
1 pages (250 words)
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...Price Analysis Method Price Analysis Method Price Analysis refers to evaluating and examining the quoted price of a good or a service without considering the costs involved and the profit included in the given price. It is a process that is basically used to determine how reasonable and fair the quoted price is to the consumer. Price Analysis Techniques usually involve a great deal of comparison, either with similar items and catalog prices or with own estimates of costs (Murphy 2009). When it comes to finding the most reasonable price for...
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Price Setting
3 pages (750 words) , Download 2
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...Price setting is often regarded as a complex multi step approach that takes into account various elements such as the external environment, demand for the product, competitors as well as internal elements like operating costs. As such, this paper seeks to evaluate the price mechanism that is used by Kentucky Fried Chicken (KFC), an international fast food restaurant that operates in more than 80 countries. The paper will discuss the benefits as well as challenges that are faced by the company in its pricing mechanism. The main strategy used by KFC is product line pricing. According to Kotler & Armstrong (2010), this strategy is related to setting the price steps between various products... ?Part 1. Price ...
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Price control
2 pages (500 words) , Download 1
...Price Controls was published in in the New York Times includes a series of short articles about the effects of price controls on different parts of the world (Nytimes). In Brazil back in the mid 1980s the government eliminated price controls that were instituted in an attempt to control inflation. The strategy of the government allowed prices to move freely as it is supposed too in a market economy. During the early 1990s price controls became a controversial issue in the medical community of the United States. The American College of Physicians wanted to limit doctors fees and hospital rates. The opinion of the College of Physicians was based on the fact that it would be better to self... The article...
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Oil price
5 pages (1250 words)
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...price of oil since 1999 and the global demand and supply of oil. It identifies the causes thathave led to the associated situations in the past as well as currently. The price of oil has been rising steadily since 2002 and the world is unlikely to see any change in this trend. The major reasons put forward for this situation are the rising global demand for oil particularly in economies like China and India which are seeing rapid growth in their economies, the production of oil growing at a slower pace and the reserves of oil being depleted. Since this rising prices is inevitable, the major countries will need to find alternative sources of energy... Executive summary: This paper shows the trends in the...
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Kindle: Price
3 pages (750 words) , Download 0
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...pricing technique, which will ensure that the number of people using the kindle doubles or triples in a short period of time. Since not many organizations have managed to come up with a technology that can challenge the kindle, it is vital for Amazon... ? Kindle Kindle According to a survey done by Amazon Company themselves, millions of people are assumed to be using the kindle bearing in mind that 3 million kindles have been sold since 2009. The kindle, even though it provides a digital version of a book, is said to be a less expensive option of acquiring a book due to the digital format (Fox, 2012). Therefore, in order to allow more people to read more books, it is vital to come up with a proper...
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Price Analysis
2 pages (500 words)
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...PRICE ANALYSIS Price Analysis s 23 January Price Analysis Whenever goods and services are intended to be purchased, the rational buyer is always interested in judging the true price of the goods and services (Dahl and Hammond 1977). Pricing analysis is quite important as the incorrect price paid may lead to the danger of incurring losses as a result of overpaid prices. So in order to prevent this problem of overpayment, analysis of pricing is very much needed so that actual amount of price can be paid without incurring losses. To compare different techniques to analyze prices, Federal Acquisition Regulation (FAR) promulgates which is a helpful guideline that assists both the parties... Running Head:...
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Price Comparisons
1 pages (250 words)
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...Price Comparisons Insert Insert The table for online retailers price comparison Item ONLINE RETAILER Overstock.com Target.com Amazon.com Macys.com Comfort dreams bed $359.99 $109.99 $256.82 $302.99 Men’s tungsten carbide $38.69 $161.50 $97.87 $142.99 Geneva platinum women $26.09 $24.99 $38.22 $28.99 German reversible cotton plush $39.99 $25.99 $36.08 $28.99 Serta 4- inch memory foam $174.99 $289.99 $218.99 $302.09 Ray-Ban unisex RB2132 $100.99 $100.99 $108.99 $122.05 MyBat Apple iPhone 4S/4 Hybrid $7.50 $29.99 $18.99 $11.99 Table 1.0: The table showing price comparison among overstock.com and other online retailers In an online store, each...
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Price control
4 pages (1000 words)
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...Price Control Law Prices control laws are enacted by the government to enable set maximum and minimum restrictions on prices of goods and services. The main aim of introducing price controls is to maintain affordability of the country’s staple food and basic goods to the hard pressed social economic individuals in the society (Rockoff, 66). Price control law protects consumers from price gouging in times of shortages when inflation is probable. This is an argumentative essay discussing the price control law and the importance of protecting consumers against...
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Price Elasticity
1 pages (250 words)
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...Price Elasti Price elasti is a term that defines the level of responsiveness of consumers to changes in price, however negligible this change is. Price elasticity measures how responsive a variable is to price changes. A product is considered elastic if a small price change has a substantial impact on the demanded quantity. On the other hand, a product is said to be inelastic if a huge change in price has little impact on the quantity in demand (Moschandreas, 2000). Several factors affect price elasticity. The factors with the largest effect on the...
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Price Theory
4 pages (1000 words)
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...Price Theory 15 October This paper will throw light upon the price theory which is extremely important to understand. Demand and supply plays the most pivotal role in deciding the price of a commodity or a service. The same will be elucidated further with the help of Euro star which is a fast- speed train which covers areas in London, Brussels and Paris. At the end of the paper the reader will be clearly able to understand the concept of price theory. Prices theory is one of the most important parts of Economics. Generally the price of a commodity or service is decided by taking into...
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Gas price
5 pages (1250 words)
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...Price The price of gas has not been stable for several years in the global, regional, national as well as local levels. Many features have caused gas prices to escalate and this has caused many impacts to businesses as well as individuals. This paper will analyze various aspects of gas prices including its relation to the price of oil and the determination of gas prices. In addition, the paper will address the causes of escalating gas prices, impact of this increase in prices and recommend some solutions to this issue. Introduction There has been a tremendous growth in the global trade in gas. In the past years, there was no advanced pipeline infrastructure. In this regard, gas trade only... Gas Price...
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Price Elasticity
2 pages (500 words)
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...PRICE ELASTI SCENARIO Being related to conspicuous consumption the CD industry is deeply affected by the changes in demand. Often the demand for automobiles go for nose-dive when the price for the fuel it runs on hikes up. The reason for this is quite obvious, simply put, consumers are unwilling to spend a fortune buying an automobile and then spending a second fortune running it! As a result of this general trend every time the price for diesel or petrol climbs up CD companies immediately try to bring their prices down. Similarly, when the supply of raw materials important for a CD to be built becomes unavailable or expensive all CD companies are forced to push their prices... up. This is...
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Price elasticity of demand
1 pages (250 words)
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...Price elasti of Demand Price elasti of demand refers to the measure of the degree of change in the quantity demanded of a given product to changes in the price of that product (Mankiw 90). Ed= % change in quantity demanded of a product % change in the price of the product The key determinants of price elasticity of demand Substitution possibility; whenever there is a large number of close substitutes; the price elasticity of demand becomes elastic. In such cases, if there occurs and increase in one of the possible substitutes, consumers will switch to the next available substitute...
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Equilibrium price and quantity
5 pages (1250 words)
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...price and quantity In economic terms, market equilibrium refers to the point where the quantity demanded and supplied are equal at a particular price level. It is the point where the demand curve intersects with supply curve (see Graph 1 below). Graph 1- Market Equilibrium Price and Quantity The equilibrium price and quantity are reached as the buyers and sellers bargain until they agree upon the specific level of price at which both are willing to demand and supply the same quantity. In a state... Economics Section Write a paragraph to explain each of the following terms. You must include at least one diagram in your overall answer, but may use more if you wish. (i) Market equilibrium price ...
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The Consumer Price Index
1 pages (250 words)
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...price of an apple, b is the number of oranges and y is the price of an orange. 2 The consumer price index refers to the changes in the cost of products over a specific period. Using the results obtained above, the CPI can be given as Taking initial price to be 100% ($6.75) and considered as a baseline for CPI 3 This percentage represents the percentage change in prices that cause the CPI to rise to 140.74% 4 5 The quantity of oranges and apples purchased won’t remain the same. The above huge percentage changes in prices over a short period can be attributed to inflation or...
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Price and Demand
3 pages (750 words)
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...price in one market can lead to an increase in demand in another market. Use diagrams and examples in your answer. (50%) The law of demand is based on the fact that people starts buying more if price of a product falls. But, there are situations when price of a product changes to affect the demand of another product. If people start to buy more of a product due to an increase in the price of another product, the curve obtained in this situation will be called cross demand curve. But, as you know that measuring the change in quantity demanded due to a change in price is called elasticity of demand which is; PD = % Change in Quantity Demanded / % Change in Price... Part a) Show how an increase in...
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Elastic and inelastic price
1 pages (250 words)
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...price elasti of supply is obtained by dividing the percentage change in the amount of the product supplied by the percentage change in the products` price. This particular paper discusses the impact of a change in supply on two products whose price elasticity of demand is elastic for the first product and inelastic for the second. If the demand curve is elastic the resulting change in the amount of the product supplied will be larger than the price change. If the demand curve is inelastic, the change in the amount of product supplied will be smaller compared to the change in the price (Boyes and Melvin, 2012). Diagram A Diagram B (Boyes and Melvin, 2012) Diagram A represents a product... with...
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Is Price Gouging Bad
1 pages (250 words)
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...Price Gouging is Good Price gouging is providing good and services for sale at a rate which is more than market price where there is no alternative available. In most cases, price gouging occurs after disasters which create the need for basic items such as water, food and electricity which become scarce after the disaster. Many scholars have argued that price gauging is not bad as the government puts it and legal measures should not be taken for those who do it (You Tube). In order to prove that price gauging is good this paper will use the state of Mississippi just after it was hit by hurricane Katrina as a case study. Price gauging is good because it attracts suppliers to areas where... ...
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The Price System
2 pages (500 words)
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...PRICE SYSTEM Question An example from the article that describes a market process is the scar of rations that increased the demand and price adjustments. It is apparent that the supply of the rations reduced, which made the smokers to have limited food to consume. As a result, the smokers would benefit by selling their commodities such as chocolates to other individuals in order to raise money for the acquisition of cigarettes (Radford 1945, p. 189). Question 2 Cigarettes emerged at the currency within the camp because they were relatively standardized, durable and a size suitable for both small and large transactions. The cigarettes packed in packets were...
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Price Adjustment Strategies
1 pages (250 words)
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...Pricing Strategy: A price is being established on the basis of owner’s own choice by following any of the above major objectives and also by the willingness of the consumers on how much they can pay, what are the substitutes available to them, is your competitor offering the same or better service that too on a lower cost than your service, you have to evaluate and then set the price of the product. The organization must provide a pricing policy as 1) selecting the pricing objective, 2) Determining demand, 3) Estimating costs, 4) Analyzing competitors’ costs, prices and offers, 5) Selecting a pricing method, 6) Selecting the final price of the service. Although pricing can be one of the most... ...
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Price Discrimination Essay
8 pages (2000 words)
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...Price Discrimination The dynamics of change is so uncertain that it sets up entirely new consumption patterns and hence new paradigms in the contextof marketing. Marketing changes are always linked to the profile of the consumer and methods of consumption. Winners will invariably be those companies that are offering more value for the customer's money. The satisfaction level for a service or a product is crucial information for the producers of the product or service. And it forms the base for some of the most important decisions taken by the manufacturer/ service provider. A product can be priced in many ways depending upon the cost of manufacturing, the cost of reaching out to customers... ...
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Price Discrimination -Economics
8 pages (2000 words)
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...price discrimination and how it can be used to benefit firms instead of the general notion that discounts... Introduction The fundamental theory of economics is based on the principle of demand and supply. From the very first lecture till the time one becomes a champion of economics, this assumption, law, rule of thumb, commandment or sacred Gospel of economics holds valid and does not waver even though other assumptions and models begin to evolve as more and more theories begin to surface (Samuelson, 2004). However, economics is a very cunning area of study in terms of the number of shortcuts and twists it offers to the people who are well aware of the complete picture of theories and practices of econom...
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Macroeconomics. Price level
6 pages (1500 words)
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...price level & increase in total spending with different stages of unemployment in an economy: Price level is an important factordetermining the total spending of an individual. When there is a rise in price of a particular good you want to buy, it affects your spending level. In the short-term view, inflation and unemployment are inversely proportional to each other. That means when unemployment is high, price level keeps low and when inflation goes high, unemployment takes a down turn. The problem with this phenomenon is that the government and the regulators of an economy would ideally want to keep both the unemployment level and inflation at as low as level possible... as possible. This...
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Price Determination and Allocation
4 pages (1000 words)
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...Price determination and Allocation The market is an array of processes that allows buyers and sellers to undertake exchange of goods, services or resources. Relationships between buyers and sellers are explained through the concept of supply and demand. In a competitive market, the goal is to produce an equilibrium system of prices and production taking into consideration that everything has a price. The interaction of supply and demand produces the equilibrium and simultaneously accounts for primary economic issues: what to produce, how things should be produced and for whom are the products. The diagram below presents the picture of a market. Each variable is shown as interrelated to each...
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Price-Elastic Products
2 pages (500 words) , Download 1
...PRICE-ELASTIC PRODUCTS PRICE-ELASTIC PRODUCTS INTRODUCTION Price elastic products are those whose rise in price willcause a remarkable decrease in demand. A product becomes price elastic when there is a severe competitive market. In other words, when oligopoly exists in the market then scope for increasing price of the product is very less. This is just the opposite as in the case of monopoly, where a firm could put up prices and make profits. Having price elastic good doesn't mean you are unprofitable (e.g. electronic goods). Similarly, having inelastic demand goods doesn't make a firm profitable always. The key is whether revenue is greater than costs. (Investopedia, 2003) MAXIMIZING... Running head:...
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THE MARKETING MIX: PRICE
3 pages (750 words)
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...Price Setting INTRODUCTION As mentioned in the in the previous assignments, Coca Cola and Cheerios can use promotional strategies such as the segmentation. Segmentation had been defined as the process of designing goods according to the desires of the target customers such as their preferences, needs and attitudes. In addition, the companies can use other marketing strategies such as position and targeting. As such, the two companies can use differentiated targeting, undifferentiated targeting and concentrated targeting. Coca Cola, for instance, strives to attract its target customers for its 3500 products in over 200 countries worldwide using the three strategies of...
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The Price Of Conservation
4 pages (1000 words)
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...Price of Conservation The protection of wild animals from extinction is perceived as a way of protecting the stability of the planet. Conservation efforts are based on the fact that all species add value to the quality of life. The extinction of a single species interferes with the food chain, which can have serious repercussions. Adams and Carwardine highlights the struggles and challenges that come with the conservation of Kaziranga in India. Kaziranga is surrounded by a population of approximately 70,000 people who struggle with poverty on a daily basis. According to Adams and Carwardine (21), Kaziranga is ranked as one of the best places to see rhinos in the world. ...
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Price of Hawaiian Punch
3 pages (750 words)
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...Price of Hawaiian Punch Price of Hawaiian Punch Pricing is one of the key objectives when deciding upon the positioning of the product. As a matter of fact, if the target audience of one’s product is a value conscious one then surely pricing plays a key role in the success of the product. The pricing objective of a company not only depends on the target audience but also on the competition, substitutes in the market, company profile and many other factors. If entering a highly competitive market segment, and the idea is to launch a flanker brand to cater to growing share of competition, then probably...
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A PROBLEM OF PRICE
3 pages (750 words)
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...pricing problem while working at a manufacturing firm d PrestigePlastics (PP) operating as a supply manager. Her job description consisted of purchasing chemicals for the firm’s plastic productions. The problematic chemical purchase for Sue was that of a chemical called X-pane made specifically for PP. A bid for this chemical was forwarded to six suppliers with an annual requirement of 10,000 drums. The Chicago Chemical Company bid the lowest. Greater Sandusky Chemical said it was impossible to bid that low based on approximate production costs of $750,000 amortized over the one-year contract to reduce loss. Other bidders... Major Facts Sue, being a graduate majored in materials management, discovered a...
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Price Elasticity of Demand
2 pages (500 words)
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...price elasti of demand in our product markets. From there we can see how the simple tools of demand and supply can affect the prices of goods, the consumers’ spending behavior and the businesses’ decisions and the operations of the entire economic system. If the demand for corn increases due to its use as an alternative energy source, there will be a decrease in the supply of corn's substitute such as soybean. This is because change in the price of related goods is a determinant of demand (McConnell & Brue, 2002). As corn and soybean are substitutes, one can be used in place of the other, so... ? In understanding this given economic issue, we need to study the application of Law of Supply and Demand and...
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Price elasticity of demand
2 pages (500 words)
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...Price Elasti of Demand Price elasti of demand is defined as the elasti that measures the nature and degree of the relationship betweenchanges in quantity demanded of a good and changes in its price. ("Price") Its mathematical equation therefore is expressed by this expression: Price Elasticity of Demand = [Q2 - Q1] / [0.5*(Q1 + Q2)] [P2 - P1] / [0.5*(P1 + P2)] In order to find out the elasticity of apples in the market, the following computation is derived: Elasticity of demand of apples = [21 - 30] / [0.5*(30 + 21)] [3.45 - 3.0] / [0.5*(3.0 + 3.45)] = [- 0.450] [3.225] Ed of apples = 2.52 Based from the result of the computation that is 2.52... ...
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Price the Product
1 pages (250 words)
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...price. The price of a product is determined by a variety of factors. Companies have to take into consideration the variable and fixed costs as well as the overhead of the organization. The price chosen must cover all the expenses and achieve a positive net income. A tool that can be used to determine how many units must be sold at a particular price to cover all the expenses of the company is the breakeven analysis (Garrison, Noreen, 2003). Another factor that companies must consider when setting a price is the market value. The market value refers to prices of the competition for a similar product or service. The product that I... One of the most important business variables of any product is its...
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Price Elasticity Of Demand
5 pages (1250 words)
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...Price Elasti of Demand Introduction This paper gives a clear insight on the microeconomic element of price elasticity of demand. It covers all the formulas that are used in computing price elasticity of demand, cross elasticity of demand and income elasticity of demand. Finally the cover interprets different graphs and signs of coefficient of elasticity of demand. Price elasticity of demand can be defined as “a measure of responsiveness or sensitivity of consumers to price change”. (Cordes, J. J et al p102)With some products, consumers have a higher responsiveness to price changes. (Daly H.E, 2004 p146) These products are said to have a relatively elastic demand. (Daly H.E, 2004 p146... Coarse: Price...
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Price elacity and discremination
7 pages (1750 words)
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...Price elasti and discrimination Price discrimination entails charging unlike prices to different groups of consumers for similar good. Airline businesses can charge unlike prices depending on various criteria: Quantity of ticket bought, for instance lower unit price is charged when more quantity is bought. Time of use-lower price at a lower peak and a higher price during peak times. The time the unit is bought, for instance discount is given for buying early. The major principle behind this price discrimination is that airline businesses are trying to utilize various price elasticities of demand (Holloway 25-29). In a market where travelers faces a highly inelastic demand, it implies... ?Sur Lecturer...
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Price of Ignorance
5 pages (1250 words)
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...price for that rightness would be incommensurate. Indifferently from how ugly and inhuman «The Act of Killing» can be, things described in it are a part of human nature that is worth paying attention. It is easy to say something like “I am not sure I want to share such feelings”. But it is easier to suppress something that one knows to be wrong, than to face it and just forget about everything, in order to follow self-justificatory mood of the society he lives in. The truth is worth being available, I... Too People nowadays are passive, ignorant creatures, limited by the ideology of the society they live in. They create heroes, villains and limits of permissible actions with their own hands, and decide...
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Should firms price discriminate
6 pages (1500 words)
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...PRICE DISCRIMINATION Should firms price discriminate? (1500words Profit maximizationis our target-price discrimination is our tool.” By Unknown monopolist History of economic thought states that the main objective of the firm is to minimize its cost and to maximize its profit using any legal methods available. Therefore, we can conclude that it would be profitable for a firm to apply price discrimination (PD). However, we should not ignore cases and issues arising when applying discriminatory strategies as this can affect a firm’s choice whether to discriminate or not. The utility and consumer surplus theorems played a vital role in our understanding of PD and importantly how it might help... ...
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Price Elasticity of Demand
2 pages (500 words)
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...PRICE ELASTI OF DEMAND Institute Price Elasti of Demand The principles of demand and supply help in making predictions about the buying and the selling behaviors of individuals as well as firms. A rise in the price of any particular product would lead to a decrease in the quantity demanded of that product, considering that it is not a necessity product. Individuals would not buy the product as they used to and the quantity demanded will fall whilst the firms would supply more of the product i.e. the supply curve will move to the right. In the case above, if the demand for corn increases, there would be a shift in the demand curve to the right. Consequently there would be a decrease in demand...
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Promotion and Price Paper
5 pages (1250 words)
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...PRICE PAPER Promotion and Price Paper in APA Style by Introduction One ofthe primary goals of a business organization is the creation of products and services which provides customer value. Being a profit making institution, companies make use of strategic marketing efforts in order to take advantage of the various opportunities in the market. Companies utilize a wide range of promotional tools and techniques as well as appropriate pricing strategies according to the product's life cycle. Generally, business organizations promote their products more intensely during the introduction stage. Higher prices can be charged during the introduction and growth stage. This paper... Running Head: PROMOTION AND...
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Microeconomics- price discrimination
3 pages (750 words)
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...price discrimination, it is when a company charges different prices to different consumers for the reason not associated with cost (Sloman,2002). The problem with Eskom is that it is charging different rate to industry and residential consumers and hence practicing price discrimination. The reason for this difference is due to electricity theft. However, it is price discrimination because the load of electricity theft is bore only by middle-class residential consumers and not the industrial consumers. The reason why Eskom might be practicing this can be illustrated from the study of consumer surplus (IA Africa, 2009). According to microeconomics, companies usually charge higher prices... To define price...
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Microeconomics: Price Theory
4 pages (1000 words)
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...Price Theory 15 October This paper will throw light upon the price theory which is extremely important to understand. Demand and supply plays the most pivotal role in deciding the price of a commodity or a service. The same will be elucidated further with the help of Euro star which is a fast- speed train which covers areas in London, Brussels and Paris. At the end of the paper the reader will be clearly able to understand the concept of price theory. Prices theory is one of the most important parts of Economics. Generally the price of a commodity or service is decided by taking into...
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Oil/petrol price analysis
6 pages (1500 words)
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...PRICE ANALYSIS Oil Price Analysis of the of the Oil Price Analysis The price of world oil has been extremely volatile in the past three decades. It was as low as US$2.17 a barrel in 1971 but spiked to US$34 in 1981, only to plummet to below US$10 in 1986. The price rose to US$50 in 2005 from under US$10 in late 1998 and early 1999. Oil prices hit a record high level of over US$145 a barrel in July 2008. With the onset of the worldwide financial crisis and deep recession, a reduced demand for crude oil drove down prices as it had done in the past, and the price of oil dropped to US$34 in February 2009, gradually increasing to US$80 in January 2010. Since the inception... of the Organisation of...
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Consumer Price Index
3 pages (750 words)
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...Price Indexation The consumer price index or the CPI and inflation are two of the most widely used terms in the the business circles. The consumer price index is used to measure a change in the price of a basket of goods over a period of time. There are a lot of uses of CPI but its major uses include being used as a measure of economic performance or indicator and being used as a tool used to adjust the value of currency. Inflation on the other hand can be simply defined as the general and persistent increase in price level over a particular period of time. As inflation rises, the purchasing power parity falls as now the same amount of money values much less as compared to what it did... Consumer Price...
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