Compare and contrast price discounts and allowances, describing the types of each.

Q: How do customer service, warranty policies, and otherpost-sales elements affect the customer…

A: Companies that assist with the installation process (such as computer software), maintain products…

Q: Economics There are the following types of prices depending on the method of fixing of the price…

A: An organisation can choose from several pricing methods. Prices are determined by three factors:…

Q: We have covered market imperfections and their effects during the course. Discuss at least two of…

A: A defective market alludes to any financial market that doesn't satisfy the thorough guidelines of a…

Q: Given the following information Qd = 240 - 5P Qs = P Where Qd is the quantity demanded, Qs is the…

A: Demand(DD) curve is a downward-sloping curve which shows that as price(P) rises, quantity…

Q: At Tokyo Disneyland, visitors typically demand more rides than the theme park can supply. In this…

A: When quantity demanded is higher than quantity supplied, there is an excess demand (or shortage).…

Q: Many states have laws that limit the maximum amount of interest that a lender can charge a borrower.…

A: The study of economic systems is known as economic analysis. It could also be an investigation into…

Q: Which price adjustment strategy is based on how a customer's perception of a product is influenced…

A: Willingness to pay, segments, business dynamics, trade margins, competitor behaviour,  and input…

Q: Find an example of MFN clause (other than the ones mentioned in the chapter) and discuss their…

A: Most-favoured-nation (MFN): treating other nations equally. Under the WTO agreements, countries have…

Q: What is a 'reservation-price curve' and why is different to the ordinary demand curve in many cases?

A: If a person only wants one unit of a good, the quantity desired is either one or zero, and the…

Q: Deteremine the level of quantities bought and sold at the equilibrium price

A: We are provided that, Qd = a - 50P Qs = -100 + 20P The market will be in equilibrium when Qd = Qs…

Q: Cite instances where determinants of demand affect consumers behavior. List them down

A: Demand refers to the willingness and ability of the consumer to buy a good or service for a certain…

Q: What would be the impact of introducing a minimum allowable price on a highly desirable product?

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: If you are selling Mercedes-Benz cars in your showroom, what product "substitutes" are available to…

A: Substitutes are those goods that can be used in place of one another. Some goods are perfect…

Q: Which products are for you not price sensitive, so that you would buy them even if the price…

A: Price sensitive refers to the situation where the changes in price leads to affect the quantity of…

Q: market When price equals $8, a surplus occurs. 1.) Using the line drawing tool, draw a horizontal…

A: Equilibrium price is the price at which quantity demanded equals quantity supplied and the market…

Q: Pricing Scenario: You just won a new laptop in a contest, and you decide to sell your old one. You…

A: In economics, elasticity refers to the degree of proportionate change in quantity demanded or…

Q: After a destructive hurricane in Southeast Texas, gasoline prices around the country increased…

A: LEither intentionally or subliminally, the issue of elasticity surfaces for buyers and producers in…

Q: Discuss the relationship of price to consumerperceptions of quality.

A: Customer perception is important in many areas, including customer understanding, communications and…

Q: An item that is priced 3.99 OMR but conveyed by the consumer as 3 OMR and not 4 OMR, treating 3.99…

A: When a product is priced not in whole number but less than whole number,for example in this…

Q: . Consumer's surplus left with the consumer under price discrimination is

A: To find:  Consumer's surplus left with the consumer under price discrimination is

Q: Multiple Choice an increase in incomes if the product is a normal good. a decline in the number of…

A: An increase in incomes if the product is a normal good.

Q: Suppose Brian is in the market for a used textbook and the campus bookstore is having a sale. If the…

A: Percentage change denotes a degree of change over time and is used in finance for a variety of…

Q: Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores…

A: Given information Juanita makes $16 per hour at work.  She wants to buy a suit, for that she has to…

Q: What are the consequences of reduced publicfunding?

A: Public funds are collected through the public by means of taxes, interests, fees, etc. These funds…

Q: There is an increased consumer preference for tea. How will this impact the market for tea?…

A: The law of demand illustrates the relationship between price and quantity demanded of a good.…

Q: Does paperless ticketing benefit consumers more than traditional ticketing that allows tickets to be…

A: The paperless tickets are very nice concept and they can be of greater value to customers. It has…

Q: Subsidies ____ the price paid by the buyer and ____ the price received by the seller.

A: Subsidies Subsidies refers to the incentive that is provided by the government to the people or…

Q: Explain two factors that determine a buyer’s reservation price? No more than 3 lines

A: A reservation price is a limit on the price of a good or service. It is usually the minimum price at…

Q: p = S(x) = 20 + 0.4x + 0.003x? The quantity supplied at the price p is x = D (Round to the nearest…

A:

Q: Customers who are concerned with long-term availability of a product or service are focused on which…

A: When considering a long term purchase, the consumer is concerned about various factors. The consumer…

Q: Customers who are indifferent to price increases based on their income, taste and preferences are…

A: Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Q: Consumer's surplus left with the consumer under price discrimination is

A: To find:  Consumer's surplus left with the consumer under price discrimination is

Q: insert a formula that calculates the percentage Raymond paid of the issue price by dividing the…

A:

Q: Differentate between complement and substitute goods.

A: Complement goods are those goods which are said to be used together. For the complement goods the…

Q: Question 2b- Part 2 Given the following information Qp = 240 - 5P %3D Qs = P %3D where Qp is the…

A: Answer: Given: Demand function: QD=240-5P Supply function: QS=P Calculation: Seller Reservation…

Q: Explain the Principles of Morality in Islamic Economics consumption related to Muslim consumer…

A: Considering the Islamic Economics consumption is an activity which contributes to mankind for their…

Q: Write a brief policy statement that presents a position on the need for utilizing morediverse…

A: Policy statement is a set of methods that are accepted in an organization. It provides a guideline…

Q: How do you suppose the demographics of an agingpopulation of “Baby Boomers” in the United States…

A: In economics, demand refers to a customer's desire to purchase goods and services as well as their…

Q: A minimum limit beyond which the price of commodity is not allowed.

A: In a competitive market, the equilibrium price and quantity of a good are determined at a point…

Q: What is required to establish a balanced scorecard to measure purchasing and supplyperformance?

A: Using the Balanced Scorecard approach is a different approach to measuring and managing procurement…

Q: Shortage conditions (shortages) will cause suppliers / producers to increase prices in order to gain…

A: Shortage occurs when quantity demanded exceeds quantity supplied. As a result an upward pressure is…

Q: Price controls often generate Select one:

A: The price controls would result in the price controls which would involve the price floor and the…

Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.