Describe the three practical problems involvedin applying price theory concepts to actualpricing decisions

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Q: The advantages of marginal analysis and how to use it for price setting.

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Q: What are the disadvantages of classic life cycle model?

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A: Intermediaries- An individual or organization that undertakes the role of linkage or mediators…

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Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”