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iVinArrow [24]
2 years ago
8

Price discrimination is the practice of charging different prices for the same product that are not justified by cost difference

s. Evaluate the following statement: "Price discrimination is not possible when a good is sold in a perfectly competitive market." False, because perfectly competitive firms do not profit maximize by setting marginal revenue equal to marginal cost False, because perfectly competitive firms have market power None of these choices True, because perfectly competitive firms have no market power
Business
1 answer:
Sergeu [11.5K]2 years ago
3 0

Answer:

<h2>Because firms in a perfectly competitive market does not have any price making ability or market power,they are not able to engage in any price discrimination.Hence,the correct answer is  the last option or True,because perfectly competitive firms have no market power.</h2>

Explanation:

In Microeconomics,perfectly competitive markets are characterized by many buyers and sellers in which the sellers and firms usually sell homogeneous or identical products.Now,as there are many firms in the market and no barriers to entry for new firms into the market,the market competition or rivalry is high and hence,no single firm has the ability to determine and manipulate the market price according to their own economic advantage because if any firm tries to do so,it will loose significant market share as most customers would move to other sellers/firms charging lower price or regular market price.Therefore,the market price is fixed in the perfectly competitive market as the firms do not have price making or market power.Consequently,they are not able to charge different prices to different customers according to their maximum willingness to pay or differences in price preferences.

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Answer:

Top-of-the-mind awareness

Explanation:

Many customers select products and commodities on the basis of brand loyalty and many select brands which offer the lowest rates. A concept where consumer selects a brand on the basis of best features and software’s is a general concept that is called the top of the mind awareness, which states that every customer wants to buy a commodity that is best in every aspect. It is estimated by asking customers by using surveys about the brands that first rings a bell in a specific class.

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Nori is writing an essay to analyze an advertisement for a piece of athletic equipment. What elements should he include in order
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Answer:

B. The advertising techniques used to persuade the viewer

C. Information about competing products and advertisers

D. What tools the advertiser uses to sell the product the purpose of the advertiser’s message

Explanation:

The essay Nori is writing to analyze advertisement for athletic equipment will be more effective if he includes, the three things above.

The advertising techniques used to persuade the viewer :

It's essential to note the advertising techniques that was used to first grab the viewer's attention in the first place, then sell the idea of the product and persuade the viewer to purchase the product. This piece of information is useful to show the success or failure of different advert techniques.

Information about competing products and advertisers:

Including this information is important because one can view the product and advert technique of competitors and make judgements on how they can improve their product in relation to their competitors and how effective the competitor's advert is when compared to yours.

What tools the advertiser uses to sell the product the purpose of the advertiser’s message:

It is necessary to include this point in the essay because it can be analyzed and if its successful, can be further applied or modified if its considered a failure.

Most companies and businesses rely heavily on advertising to increase customer base and sales so if a successful method is found, then it can repeated or modified.

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2 years ago
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MARS Chocolate Company is making an estimate of the amount of candy it expects to sell during the Christmas season based on a sp
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A

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Because the judgement of executives does not adequately factor into a mathematical equation. it's like a judgement call only whereas the others can be used in an equation manner

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Suppose apartments are in four locations: Location A, Location B, Location C, and Location D. Location A is in the city, where y
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Solution:

Assume:

A=0

B=1

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185X - (10X * 2)/60 * 21 * 22  = ?

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Apartment A = $0.00

Apartment B = $23.00

Apartment C = $46.00

Apartment D = $69.00

According to the time value, Apartment D provides the most savings.

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2 years ago
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