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Where is the bargaining power of consumers greater?
1) The auto industry
2) Pharmaceuticals
explain your choice.
Step by step
Solved in 4 steps
- Explain Briefly with zero plagiarism In the selling process or in negotiations, who typically has the upper hand, the buyer or the seller?Suppose X and Y are complements and demand for X is Qxd = α0 + αXPX + αYPY + αMM + αHH. Then we know Multiple Choice A. αH > 0. B. αX > 0. C. αY < 0. D. αM < 0.How is voluntary simplicity related to thematerialism value? What are the marketingimplications of voluntary simplicity? Do theseimplications vary by product class?
- 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?In bargaining without impatience, What is the discount factor?Target produces a good with significant network externalities. The willingness to pay equation is p = 1 – q + 2.5q2 . Show on the graph the firm’s demand curve at each price from 0 < P < 3. What three equilibrium values of q may result if Firm A sets a price of $1.5? Indicate them on your graph. [the quadratic equation helps you solve for one of them.] Are the equilibria you identify stable? Does stability matter to Acme?
- A supplier is selling tomatoes in two cities, Antalya and Istanbul. It costs him 1 TRY per kg of tomatoes delivered in each city. Let p1 be the price of a kg of tomatoes in Antalya and p2 be the price of a kg tomatoes in Istanbul. The price-response curves in each city: Antalya: d1(p1) = 500 - 100p1 Istanbul: d2(p2) = 1,200 - 200p2 Assuming the supplier can charge any price he likes, what prices should be charged for a kg of tomatoes in Antalya and Istanbul to maximize total contribution? What are the corresponding demands, revenues, and total contributions in each city? What is the total demand, total revenue, and total contribution over the two cities?Suppose Verizon has only three cell phone customers. The demand curve for each customer’s monthly demand (in hours) is shown here: Here p = price in dollars charged for each hour of cell phone usage. It costs Verizon 25 cents to provide each hour of cell phone usage. a. If Verizon charges the same price for each hour of cell phone usage, what price should they charge? b. Find the profit maximizing a two-part tariff for Verizon. How much does the best two-part tariff increase the profit over the profit maximizing the single price?There are five students who are looking to buy one second-hand textbook each. Their willingness-to-pay are $5, $6, $8, $12, and $15, respectively. Based on this information, which of the following statements is correct? Select one: a. If a seller is one of many identical sellers and his reservation price is $8, then he is guaranteed to sell his textbook. b. To sell three books, the maximum price that can be charged is $8. c. The student with a willingness-to-pay of $15 is the richest. d. Their willingness-to-pay indicates an upward-sloping demand curve.
- Bargaining power may exist for a seller if they have another buyer to whom they can sell the product.True or False?Why does the movie theater charge matinee customers a lower price than the night time customers?What is the term that economists use for pricing that is inconsistent among consumers? a. moral hazard b. price discrimination c. adverse selection d. uniform distribution