Product Differentiation refers to the ability of firms to: Select one: O a. adjust their products for different prices. O b. charge different prices to different customers for the same product. C. sell a product that is similar to but different from what their competitors are selling. O d. sell their product in different markets.
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- A very large number of firms with standardized products none can control price and firms are price taker. Select one: Oa. Pure competition O b. Pure monopoly c. Monopolistic competition O d. OligopolyA price tag states that an item’s MRSP is $100 but that its markdown is $40. This is an effective sales strategy because... O. a. discounts anchor buyers to the lowest price, so they are willing to pay more. O. b. the buyer is anchored to the higher price, so the lower price feels like a good deal. O. c. a higher price is a reference point that is never considered again. O. d. retailers know that consumers do not think about costs relatively.(28). A firm that faces a high-demand period followed by a low-demand period must determine all of the following for peak-load pricing except which one? O A) long-term peak quantity O B) long-run capacity O C) short-term peak price O D) short-term off-peak price (29) The demand for Healthy Bars, a health snack bar, is Qd = 10 - (2 x P) and Healthy Bars has a constant average cost of $3 per snack bar. If Healthy Bars wants to package their bars to create an all-or-nothing offer and puts the profit-maximizing number of bars into each package, what is the profit-maximizing price to charge for the package? O A) $8 O B) $20 O C) $12 O D) $16
- Economic profits may result from: O a. innovation b.risk taking Oc. exploiting market inefficiencies Od. all the above O e. a and bMR =MC =D is the condition under Select one: Oa. Oligopoly O b. Monopolistic competition O c. Pure monopoly O d. Pure competitionWhich of the following does not describe a monopoly market? Select one: O a. Profit maximizing output is chosen, where marginal revenue equals marginal cost O b. A single seller and price maker O c. Price is higher than marginal cost or marginal revenue O d. No barriers to entry and/or exit Australian Institute of Business & Management trading as King's Own Institute
- Question #5What is the MC=MR Profit Maximization point? What quantity should Delicious Deserts be producing at 'and' what price should they be charging to maximize their profits? Question #6 Why isn't it a good idea for them to produce and sell as many cakes as they can? Is it more profitable to sell less cakes at this current stage of their business? Question #7Do you have any other recommendations for Delicious Deserts to increase their revenues, profits, market share, and client retention?A seller using a single-price strategy has equated marginal revenue to zero. The firm has: Select one: 0 a. maximized revenue. O b. minimized cost. C. minimized profit. O d. maximized profit. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.Monopolistic competition has which advantage compared to a monopoly? O A. It increases the selling price of a business's products. O B. It gives companies access to more start-up capital. O C. It allows more companies to compete in an industry. O D. It takes greater advantage of economies of scale.
- Two firms with the same (constant) marginal costs are engaging in Bertrand competition. One of the companies exits the industry. As a aconsequence, the price for the other firm increases by 50%. What is the elasticity of demand in this market?O. 3O. 2O. 2.5O. 4What is NOT a use of money? O a unit of account O a medium of exchange O a form of barter O a store of value If McDonald's merged with Burger King and Wendy's it would be a •horizontal merger vertical merger conglomerate merger co-operative A firm sells coal to a city for one price but sells the same type of coal to an outlying village at another price. What is this practice called? O oligopoly O monopoly O differentiation O price discrimination Which phase of the business cycle is characterized by a slowdown in business? contraction recovery expansion peakIt is argued that firms differentiate their products and sustain positive profits while other firms imitate and drive down their profits in the competitive business environments. Would you defend or refute the economic argument above? Explain your position. Do research on a firm’s product innovation to demonstrate the concept of product differentiation (i.e. a real-life example of a firm’s product of which a bundle of characteristics that differs from any existing product).