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Trueeee Or falseee
True or false? Basic economic concepts can be used to understand the pricing of products.
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- True or false? Basic economic concepts can be used to understand the pricing of products.Describe an example where prices change people's behavior in efficient manners?This is a difficult question. Take your time to match the term to its definition or description. Complement Inferior Good Normal Good Substitute A. E1<0 B. EXY<0 C. E1>0 D. EXY>0
- Dtermine the implications of market pricing on the following when making economic decisions. Abswer in no more than five sentences: 1. Buyer/consumer 2. Seller/producer/supplierExplain each issue why it is a microeconomic issue 5.B Justina owns the Just’s Sobolo Store. She charges GHS10 per bottle for her handmade sobolo. You, the economist calculated the elasticity of demand for sobolo in her town to be 2.5. If she wants to increase her total revenue, what advice will you give her and why? Be able to explain your answer.It’s increasingly clear that many postings on blogs and product reviews on Web sites are fake or are posted there to manipulate consumers’ opinions. How big a problem is this if consumers increasingly look to consumer-generated product reviews to guide their purchase decisions? What steps, if any, can marketers take to nip this problem in the bud?
- How does shoppee and lazada compete in the market?For example, a 12 oz cup of Coke is $1, and a 32 oz cup is $1.70. What explains this marketing strategy? With the help of graphs (economic models) demonstrate.Often, firms offer a larger quantity (milk, paint, toilet paper, a cup of Coke, second dress, second pizza…) at a lower price. For example, a 12 oz cup of Coke is $1, and a 32 oz cup is $1.70. What explains this marketing strategy? With the help of graphs (economic models) demonstrate.
- Discuss value-based pricing in a market economyWhat is a good or service that has become expensive/cheap due to (a) natural scarcity/abundance of supply or naturally high/low demand, and (b) artificial mean (e.g., government policy, competition restricting practices)?Dicuss: what is a market economy and it's pricing models
