Q: Differentiate geographical pricing from psychological pricing.
A: Pricing is the process of determining a manufacturer's worth in exchange for their goods and…
Q: Jabari True Increase production from 4 to 5 fire engines because the True or False: If alternatively…
A: The person is only selling fire engines. The first four engines were manufactured at a lower cost…
Q: Resorts give discounts to individuals who book in advance and stay over a weekend. Individuals who…
A: First case: Discounts to individuals who book in advance and stay over a weekend. In this, a…
Q: What factors contribute to the advantage and disadvantage of various pricing strategies?
A: The factors that determine the advantage and disadvantage of Pricing Policies are:
Q: 2. A retailer is currently charging a price of $147.52 for a Hewlett-Packard OfficeJet printer that…
A: Part a) The relationship between constant elasticity, formula and optimal price is: p* =…
Q: How price discrimination occur in airline industry? Explain.
A: Price discrimination means charging different prices from different customers. It is possible to…
Q: Sally runs a vegetable stand. The following table shows two points on the demand curve for the…
A: Marginal Revenue = change in total revenue / change in quantity
Q: Jabari's HookNLadder is the only company selling fire engines in the fictional country of…
A: Demand shows that there is an inverse relationship between price and quantity demanded .Revenue is…
Q: Joe Smiley buys his mobile phone services from Sprint, the sole provider in his state of Wyoming.…
A: "Since you have asked multiple questions ,we will solve first question for you.If want any specific…
Q: Jabari's HookNLadder is the only company selling fire engines in the fictional country of…
A: The person is only selling fire engines. The first four engines were manufactured at a lower cost…
Q: Discuss at least 1 pricing practice that is illegal or unethical
A: Mostly, different firms engage in competition to reach their targets, which enables the customers to…
Q: Darnell and Janet are debating the use of coupons by grocery stores. Darnell says, "The use of…
A: Coupons are indeed most effective to price discrimination. Companies set a high price of the product…
Q: Marcella owns a sandwich shop. She decides to charge different prices to groups of customers. She…
A: The lower the elasticity of demand, the higher would be the final price paid by customer
Q: You are an owner of a local Toyota dealership. Your dealership earned record profits of 13 million.…
A: Given: N=3EM=-1.5MC=$12000 Here N is the total number of dealers in the market EM is the market…
Q: Complete the following table showing the demand for snow skiing lessons per day. Do this by filling…
A: Revenue is computed as the average sales price multiplied by the number of units sold. It is the top…
Q: nount of commercials that could be ed during children's television shows, fectively reducing the…
A: Price Elasticity of Demand: Price Elasticity of demand is the degree of responsiveness of % change…
Q: Francine is a a dental floss tycoon living in Montana. She faces the following demand curve for her…
A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…
Q: 2. The market for EpiPens Consider the pharmaceutical company Mylan that produces epinephrine…
A: Optimal price / quantity and profit for a firm: A firm always try to maximize its profits given the…
Q: Identify the five pricing policy decisionsmarketers must make
A: Pricing policy decisions are the end step for a marketer in a production process. After that the…
Q: You are the manager of a popular hat company. You know that the advertising elasticity of demand for…
A:
Q: Suppose a movie theater determines that the elasticity of demand for movie tickets is -2.0 for…
A: The Lerner index measures a firm's market power by determining how much it can charge prices over…
Q: what is an example of parallel pricing ?
A: Parallel pricing is a method of copying other companies' pricing strategies, especially…
Q: i) Calculate the amount of Botch Potato bought in the market. ii) Estimate the own price elasticity…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Using the following graph that presents the demand, marginal revenue, and relevant costs for your…
A: The marginal income is additional money earned when one unit more of good or service is sold. It can…
Q: If price discrimination is the option to implement within the context of elasticity of demand, what…
A: Price discrimination refers to charging different prices to different customers for the same…
Q: Everyday-low pricing is a pricing strategy that is consistent with a goal of achieving long-term…
A: Answer: Everyday low pricing (EDLP): EDLP refers to the pricing strategy wherein the retailers or…
Q: Which of the following was NOT something that is needed in order to be able to price discriminate?…
A: Price discrimination refers to the policy of a firm to charge different prices for the same product…
Q: 1) What kind of consumer behavior is second-degree price discrimination based on? Need relevant…
A: Answer - "Thank you for submitting the question, But we are authorizied to solve one question at a…
Q: Resorts give discounts to individuals who book in advance and stay over a weekend. Individuals who…
A: Customers that have made reservations in advance If a group of people decides to spend the night at…
Q: The managers of Movies Plus, a large movie theater, want to practice third-degree price…
A: A movie theater practices third-degree price discrimination. It has two groups of customers, i.e.,…
Q: Asim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina.…
A: As the price lowers from $75,000 to $50,000, then quantity demanded of fire engines increased from 8…
Q: The following table contains different consumers' values for three software titles: PowerPoint, Exc…
A: Price blend is the mix of various 'prices not entirely settled by a maker to fix the price of the…
Q: Briefly explain each of the following types of pricing strategy, and give an example of a good or…
A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: for smart phones. Points P Q A 6060 3,0003,000 B 7070 2,8002,800 C 8080 2,6002,600 D 9090…
A: Elasticity of demand depicts how much consumer responds with the change in the price level.
Q: Francine is a a dental floss tycoon living in Montana. She faces the following demand curve for her…
A: Price elasticity of demand measures the responsiveness of the demand of a commodity to a change in…
Q: Explain the type of pricing strategy that you as a manager of a company would implement for Good X…
A: a. The price elasticity of demand is the degree of responsiveness from the part of the consumer…
Q: O Macmillan Learning Suppose that a small-town theater has six potential customers and is looking to…
A: Step 1:Step 2:Step 3:Additional comment: 1.dear remember for less price ticket high paying customers…
Explain the methods used to
allocate the integrated
marketing communications
(IMC) budget.
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- You would like to control the total consumption of soft drink up to 100 bottles per year. The current two brands you drink are Pepsi and Coke. The current demand, price, elasticity, and minimum demand for Pepsi and Coke are given in below. In addition, you would like to keep equal or more demand from Pepsi due to brand loyalty. Assuming linear demand curves, what are the best price for Pepsi and Coke that can minimize your total payment? Elasticity Current price Demand Minimum demand Keep Pepsi income > = 60% of total payment Pepsi 2 2 300 20 Coke 1 3.5 220 25Suppose that a small-town theater has six potential customers and is looking to implement price discrimination depending on when customers want to atlend. Suppose the marginal cost of serving an additional customer is $1.50. The data provide information about the Lime of attendance and willingness to pay for a ticket. Maximum willingness Time of Customer to pay attendance Brandon $4 matinee Tyler $35 evening Austin S10 evening Alexis $7 matinee Ashley $12 evening Emily $12 matinee What should the theater charge for evening lickets? 20 Incorrect What should the theater charge for matinee tickets? 24An international airline in Ghana ,Emirates ,estimates that the price elasticity of demand for business who travellers weekdays is -3,while that for vacation travellers who travel on weekends is -5 .if the aim of the airline is to maximise profit what pricing strategy will you recommend to the airline and why?
- Vijay Dairy is selling flavored milk and buttermilk in packets of 150 ml. The dairysells 2000 packets of flavored milk and 1000 packets of buttermilk every day. Theformer is priced at Rs 6 and the latter is at Rs 4. A market survey estimates the crossprice elasticity (both ways) to be + 1.8 and the own price elasticity of flavored milk tobe -1.3. The dairy is contemplating a 10 per cent reduction in the price of flavoredmilk. Should it go ahead with price reduction? Why are why not? Show all theworkingAsim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Asim initially produced eight trucks, but then decided to increase production to nine trucks. The following graph gives the demand curve faced by Asim's HookNLadder. As the graph shows, in order to sell the additional fire truck, Asim must lower the price from $80,000 to $40,000 per truck. Notice that Asim gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial eight engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial eight engines by selling at $40,000 rather than $80,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $40,000. PRICE (Thousands of dollars per fire engine) 220 Asim 200 180 160 140 120 100 80 60 40 20 0 0 1 True 2 False 4 5…What is the maximum profit for individual pricing
- Jabari's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Jabari initially produced five trucks, but then decided to increase production to six trucks. The following graph gives the demand curve faced by Jabari's HookNLadder. As the graph shows, in order to sell the additional fire truck, Jabari must lower the price from $160,000 to $120,000 per truck. Notice that Jabari gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial five engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial five engines by selling at $120,000 rather than $160,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $120,000. PRICE (Thousands of dollars per fire engine) 220 200 180 160 140 120 100 80 60 40 0 Jabari 0 + 1 True…MelCo’s Xamoff The global pharmaceuticals giant, MelCo, has had great success with Xamoff, and over-thecounter medicine that reduces exam-related anxiety. A patent currently protects Xamoff from competition, although rumors persist that similar products are in development. Two years ago, MelCo sold 25 million units for a price of $10 for a package of ten. Last year it raised the price to $11, and sales fell to 22 million units. Finally, a financial analyst estimates the cost of production at $2 per package. (a) Estimate the elasticity of demand for this product at $10. Is this price too high or too low? (b) Estimate the elasticity of demand for this product at $11. Is this price too high or too low? (c) Based on your answers to (a) and (b), what can we say about MelCo’s profit-maximizing price?Typed plz and asap
- Hersheypark in Pennsylvania mentions the following offer on its Web page: “A military discount is available at Hersheypark during the regular summer operating schedule off of the Regular, Junior and Senior One Day admission. This discount is available to active duty military, reserves, retired military personnel, and members of the National Guard.” This is _____ price discrimination.The following table contains different consumers' values for three software titles: PowerPoint, Excel, and Word. Suppose there are 100 consumers of each type. It costs Microsoft $0 to produce each piece of software. Consumer Types Administrative Assistants Marketing/Sales Accountants Price per each Profit on just that software PowerPoint Total profit on all software $76 $200 $25 A la carte pricing If Microsoft were to sell each of the software individually, what price should it set for each and what would its profits on each be? PowerPoint Excel $100 $100 $250 $ Word $200 $125 $25 Excel Word Bundled Pricing If Microsoft were to only sell the three products as a bundle, what price should they set for bundle and what would profits be? Bundled Price $ Total Profit S Mixed Pricing Suppose that Microsoft offered a bundle of all three for $375, but it also offers a price of $200 for each software separately. What is the new profit level for this pricing scheme?$ Is this mixed-pricing scheme…Use a diagram to describe block pricing of a supermarket product