es to th X +essment/take/launch.jsp?course_assessment_id%-329092 1&course_id=_179915_1&content_id%=_9975185_18&step3DnullQUESTION 1Match these types of prices to their description by writing in the best choice in each blank.A.Term used by Middle Age philosophers to describepricing such that justice is served.Equilibrium PriceB. Price in a Free MarketTerm used to describe the inherent price of goods.Some think this is determined by the cost ofproduction.. Going PriceD. Just PriceThe price of an economic good such that the amount of E.it that buyers wish to purchase in a certain time periodis equal to the amount sellers are offering for sale.Natural PriceThe amount a willing seller will take and a willing buyerwill pay.That range of prices for a good at which sellers candispose of most of their goods and buyers with someintensity of demand for the good will be satisfied.

Various types of price shows how in different time and ages concept has been changed

Match these types of prices to their description by writing in the best choice in each blank. A. Equilibrium Price Term used by Middle Age philosophers to describe pricing such that justice is served. В. Price in a Free Market Term used to describe the inherent price of goods. Some think this is determined by the cost of production. C. Going Price D. Just Price The price of an economic good such that the amount of it that buyers wish to purchase in a certain time period is equal to the amount sellers are offering for sale. E. Natural Price The amount a willing seller will take and a willing buyer will pay. That range of prices for a good at which sellers can dispose of most of their goods and buyers with some intensity of demand for the good will be satisfied.

Match these types of prices to their description by writing in the best choice in each blank. A. Equilibrium Price Term used by Middle Age philosophers to describe pricing such that justice is served. В. Price in a Free Market Term used to describe the inherent price of goods. Some think this is determined by the cost of production. C. Going Price D. Just Price The price of an economic good such that the amount of it that buyers wish to purchase in a certain time period is equal to the amount sellers are offering for sale. E. Natural Price The amount a willing seller will take and a willing buyer will pay. That range of prices for a good at which sellers can dispose of most of their goods and buyers with some intensity of demand for the good will be satisfied.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter1: Introduction And Goals Of The Firm

Section: Chapter Questions

Problem 4E: In the Southern Company Managerial Challenge, which alternative for complying with the Clean Air Act...

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The BCY Corporation provides accounting services to a wide variety of customers, most ofwhom have had a business association with BCY for more than five years.BCY's demand is: P = 24,000 – 20Q, and BCY's marginal cost of service is: MC = 40Q.a. If BCY charges a uniform price for a unit of accounting service, Q, what price must itcharge per unit, and how many units must it produce per time period in order to maximizeprofit? Calculate the consumer surplus.b. If BCY could enforce first-degree price discrimination, what would be the lowest pricethat it would charge and how many units would it produce per time period?c. With perfect price discrimination and ignoring any fixed cost, what is total profit andwhat is the amount of consumer surplus?
PLease explain resondes and please help me solve, where should th problem begin .
Problem 1. During your first month as an employee at Greenfield Industries (a large drill-bitmanufacturer), you are asked to evaluate alternatives for producing a newly designed drill bit on aturning machine. Your boss’ memorandum to you has practically no information about what thealternatives are and what criteria should be used. The same task was posed to a previous employeewho could not finish the analysis, but she has given you the following information: An old turningmachine valued at $350,000 exists (in the warehouse) that can be modified for the new drill bit.The in-house technicians have given an estimate of $40,000 to modify this machine, and they assureyou that they will have the machine ready before the projected start date (although they havenever done any modifications of this type). It is hoped that the old turning machine will be able tomeet production requirements at full capacity. An outside company, McDonald Inc., made themachine seven years ago and can easily do the…
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2 Your current prices are $311 in the southwestern region, $278 in the western region, and $240 in the New England region. Your marginal cost is now $212.21. Given the predicted changes in the quantity demanded by region per problem 1 and using the stay even analysis %ΔQd = %ΔP/[%ΔP + ((P-MC)/P)], can you raise the price by 7% in any of the regional markets? State you conclusion and then show all the steps supporting your conclusion. Round to one decimal place, i.e. 10.135 is 10.1 (Note you are not being asked to compute the new price.).
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Your current prices are $311 in the southwestern region; $278 in the western-region and $240 in the New England region. Your marginal cost is now $212.21. Given the predicted changes in the quantity demanded by region per problem 1 and using the stay even analysis %ΔQd = %ΔP/[%ΔP + ((P-MC)/P)], can you raise the price by 7% in any of the regional markets? State you conclusion and then show all the steps supporting your conclusion. (Note you are not being asked to compute the new price.)
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