the policies and procedures for competition requirements. Explain in detail Full and Open Competition, Full and Open Competition after exclusion of sources, and Other than Full and Open Competition
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FAR Part 6 provides the policies and procedures for competition requirements. Explain in detail Full and Open Competition, Full and Open Competition after exclusion of sources, and Other than Full and Open Competition.
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- Company A uses a pricing approach where the initial price for a product is set high and then lowered, and Company B uses an approach where initial prices are set low in an effort to gain market share. What terms best describe these practices? • Company A – Predatory; Company B – Skimming • Company A – Penetration; Company B – Predatory • Company A – Skimming; Company B – Penetration • Company A – Skimming; Company B – Predatory • Company A – Predatory; Company B – PenetrationA narrow definition of monopoly is that a firm is a monopoly if it can ignore A) government antitrust laws. B) the pricing decisions of its suppliers. C) the pricing decisions of firms that produce complementary products. D) the actions of all other firms.Part I: Given the cost per king-size sheet set above, and assuming the manufacturer has total fixed costs of $500,000 and estimates first year sales will be 50,000 sets, determine the price to consumers if the company desires a 40 percent margin on sales. Part II: If the company decides to sell through retailers instead of directly to consumers online, to maintain the consumer price you calculated in the previous question, at what price must it sell the product to a wholesaler who then sells it to retailers? Assume wholesalers desire a 10 percent margin and retailers get a 20 percent margin, both based on their respective selling prices.
- eBook Problem 7-15 Par, Inc., is a small manufacturer of golf equipment and supplies. Par's distributor believes a market exists for both a medium-priced golf bag, referred to as a standard model, and a high-priced golf bag, referred to as a deluxe model. The distributor is so confident of the market that, if Par can make the bags at a competitive price, the distributor will purchase all the bags that Par can manufacture over the next three months. A careful analysis of the manufacturing requirements resulted in the following table, which shows the production time requirements for the four required manufacturing operations and the accounting department's estimate of the profit contribution per bag: Product Standard Deluxe Cutting and Dyeing 7/10 1 Production Time (hours) Sewing ½ 516 Finishing 1 2/3 Inspection and Packaging 1/10 1/₁ Profit per Bag $10 $9 The director of manufacturing estimates that 630 hours of cutting and dyeing time, 600 hours of sewing time, 708 hours of finishing…During the last year, ABC Company and XYZ Company have been battling each other for market share in the greater Detroit marketing area. Competition has included stepped up advertising and larger than usual product discounts to attract customers. ABC Company recently filed a case in federal court alleging violations of federal antitrust laws by XYZ Company. As proof of predatory pricing activities by XYZ, ABC shows the court that XYZ has experienced average monthly losses in its Detroit area sales region of $100,000 for each of the last six months. During a similar period the previous year, XYZ had monthly average regional profits of $60,000. This data shows that: A. XYZ Company was clearly engaged in predatory pricing activities. B. XYZ Company clearly went from a profit to a loss position in the Detroit sales region. C. ABC Company must have experienced similar profit problems. D. XYZ Company's sales volume must…As a member of a local Realtors® association, Broker Mel is generally obligated to place all her listings on the MLS. On one recent occasion, she did not. Evaluate the following scenarios and select the one that provides a justifiable reason for Mel's actions. Mel's client lives in a high-traffic area where a yard sign will bring in all the buyer prospects they could hope for, so an MLS listing is unnecessary. Mel's seller-client is a professional athlete who wants to keep his transaction very private and has asked that his property not be put on the MLS. Mel's client has an immaculate home that will sell easily and fast without being published on the MLS. Mel's client is on a very tight budget and is not willing to pay much in the way of commission on the sale of their home.
- What type of a business approach is an NDA (non-disclosure agreement)A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager’s permission to reduce price below a specific threshold. This solution would only work if a) The marketing manager has no information about the matter at hand b) The marketing manager can only get all the information on the case from the sales agent c) Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction d) All of the above Please clearly explain your answerTo ensure a full line of outdoor clothing and accessories, the marketing department at Teddy Bower insists that they also sell waterproof hunting boots. Unfortunately, neither Teddy Bower nor TeddySports has expertise in manufacturing those kinds of boots. Therefore, Teddy Bower contacted several Taiwanese suppliers to request quotes. Due to competition, Teddy Bower knows that it cannot sell these boots for more than $54. However, $40 per boot was the best quote from the suppliers. In addition, Teddy Bower anticipates excess inventory will need to be sold off at a 50 percent discount at the end of the season. Given the $54 price, Teddy Bower’s demand forecast is for 560 boots, with a standard deviation of 460.a. If Teddy Bower decides to include these boots in its assortment, how many boots should it order from its supplier?(Round your answer to nearest whole number.) _________b. Suppose Teddy Bower orders 540 boots. What would its expected profit be?(Round your answer to the nearest…
- Highlight any four guidelines which should be followed to ensure fairness in a competitive tendering process1. The Sherman Antitrust Act prohibits price fixing. Price fixing is A. the use of false or misleading statements or practices to persuade buyers that a product is a better deal than it really is. B. the practice of employing price differentials that tend to injure competition by giving one or more buyers a competitive advantage. C. an agreement among competing firms to raise, lower, or maintain prices for mutual benefit. D. an attempt to establish high prices by becoming the market leader. E. the intent to set a product's price so low that rival firms cannot compete and therefore withdraw from the marketplace. 2. Travis Kellogg is a sales representative for Xerox and his territory includes St. Louis and the surrounding suburbs. One of his accounts is Cintas, which offers a wide range of products to businesses. Travis was working with the Cintas division manager, Kiera Valentine, to gain her approval to purchase a networked printer and copier for the local office.…To ensure a full line of outdoor clothing and accessories, the marketing department at Teddy Bower insists that they also sell waterproof hunting boots. Unfortunately, neither Teddy Bower nor TeddySports has expertise in manufacturing those kinds of boots. Therefore, Teddy Bower contacted several Taiwanese suppliers to request quotes. Due to competition, Teddy Bower knows that it cannot sell these boots for more than $54. However, $40 per boots was the best quote from the suppliers. In addition, Teddy Bower anticipates excess inventory will need to be sold off at a 50 percent discount at the end of the season. Given the $54 price, Teddy Bower’s demand forecast is for 400 boots, with a standard deviation of 300. Questions: 1. If Teddy Bower decides to include these boots in its assortment, how many boots should it order from its supplier? 2. Suppose Teddy Bower orders 380 boots. What would its expected profit be? 3. John Briggs, a buyer in the procurement department, overheard at lunch…