Exam #2 - Part 3

what are some pricing tactics used by companies? What form of price discriminations might a company use?

Outline the economic factors that affect marketing decisions and consumer buying power.

what are pricing tactics and examples? What are some forms of price discriminations?

Question 2 (a) what is price discrimination.Give examples (b) Determine the conditions for price discrimination to be effective.

the choices are (janet, darnell) thanlyouuu

not use ai please

Which of the following is a necessary condition for price discrimination? Group of answer choices a. Buyers are aware of prices charged to other buyers. b. The seller is a perfectly competitive firm. c. Buyers have identical elasticities of demand. d. Resale of the product or service is possible. e. The seller can separate consumers according to their elasticities of demand.

How does price discrimination play a role in the economy?How does the idea of price discrimination apply to an industry?

Use the table below to answer the following questions:QuantityDemand (Price)Marginal RevenueMarginal CostAverage Cost1$120012005005002110010002753883100080022533349006002503135800400400330670020050035876000700407 Are there consumers who want the product but are not willing to pay the profit-maximizing price the firm will charge? How can you tell?If the firm could charge every consumer exactly what that consumer was willing to pay (called perfect price discrimination), would the quantity the firm produced increase, decrease, or remain the same? Would the firm’s profits increase, decrease, or remain the same? Explain your answers.

In which type of market, monopolistic or competitive market, is the equilibrium market price lower? Why?

​Use the following table for questions  Carving knives Home users Professional Chefs No-name brand $40 $70 High-end professional series $60 $130 ​How much would the firm make in revenue if it prices both its products successfully? Question 35 options: ​$110 ​$120 ​$130 ​$140

The following table shows the daily cost data and demand schedule for a typical firm producing board games in a monopolistically competitive market in the short run. Fill in the values in the Marginal Cost, Total Revenue, and Marginal Revenue columns in the following table and then answer the questions that follow. Quantity Price (Board games) (Dollars per game) Total Cost Marginal Cost (Dollars) (Dollars) Total Revenue (Dollars) Marginal Revenue (Dollars) Average Total Cost (Dollars) 1 16.00 14.00 10.00 8.00 6.00 4.00 2.00 2 3 4 5 6 7 8 0.50 12 18 21 24 35 48 63 80 Under monopolistic competition, a typical firm will produce Based on your calculations, the firm will Fill in the Average Total Cost column in the previous table. ^^^^^^^ board games at a price of $ Based on your calculations, the level of excess capacity in this monopolistically competitive market is per board game in the short run.

Q4) What is price discrimination. What are its types and how it affects production and prices?

The diagram above shows a monopolistically competitive firm in the long run. Answer the questions below.    Using the points displayed on the diagram, name the rectangular area that represents the profit or loss.  What should the firm do regarding price and/or quantity to minimize its losses?

Which of the following is necessary for a firm to practice price discrimination? Group of answer choices a. The firm is a member of a cartel. b. The demand curve for the product is perfectly inelastic. c. The firm can prevent resale of its goods. d. The government strictly enforces antitrust laws. e. The demand curve for the product is perfectly elastic.

Which of the following is NOT a condition needed for price discrimination? Select one: a. The company has market power in its product market. b. The company can keep customers from reselling the product after they have purchased it. c. The company has a perfectly elastic demand curve. d. The company knows how much different customers are willing to pay for the product

Question a) You might have experienced differential prices in your daily life. Please share your experience and explain why the service providers were able to charge you different prices at different places? b) How did the service provider, you benefited from, make the differential prices work? c) Do you think Monopoly increases general welfare?

Box 3 - Write down the cognitive bias you are illustrating Box 4 - Explain how the advertisement you found reflects the cognitive bias you chose. please I need help with those 2 boxes :(

Why are changes of prices of commodities is very responsive to the needs of the consumer? Is price discrimination considered as fair business practice. Why do companies tends to sell commodity to different buyers at different prices?

QUESTION 4  Explain price discrimination. what are the conditions to make price discrimination effective? provide your answers with examples from the Airline industry.