or seller will a. have a negligible impact on the market price. b. have little effect on market equilibrium quantity but will affect market equilibrium price. c. affect marginal revenue and average revenue but not price. d. adversely affect the profitability of more than one firm in the market. Table 14-1 Quantity Total Revenue 0 $0 1 $7 2 $14 3 $21 4 $28 2. Refer to Table 14-1. For a firm operating in a competitive market‚ the price is a. $0. b. $7. c. $14. d. $21. 3. Suppose that a firm
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College Costs and Prices One thing that is stressed the most in today’s society is a college education. Not only do parents want their children to have one‚ something that is even more stressed is the price we pay to obtain one. Something that needs to be understood is the difference between college costs and college prices. College costs refer to what the institutions spend on education and related services‚ while college prices are what the students and their families are charged for a higher
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Consti 1 Tañada v Tuvera‚ 136 SCRA 27 (1985) Republic of the Philippines SUPREME COURT Manila EN BANC G.R. No. L-63915 April 24‚ 1985 LORENZO M. TAÑADA‚ ABRAHAM F. SARMIENTO‚ and MOVEMENT OF ATTORNEYS FOR BROTHERHOOD‚ INTEGRITY AND NATIONALISM‚ INC. [MABINI]‚ petitioners‚ vs. HON. JUAN C. TUVERA‚ in his capacity as Executive Assistant to the President‚ HON. JOAQUIN VENUS‚ in his capacity as Deputy Executive Assistant to the President ‚ MELQUIADES P. DE LA CRUZ‚ in his capacity as Director‚ Malacañang
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Name: University: Course: Tutor: Date: Are the company’s prices and costs competitive? The pricing system as well as cost deployed by an organization contributes to a large part in its competitive edge. Notably‚ in the current competitive world meticulous consideration is crucial in both pricing and costing on either products or services. Considering pricing as well as costs in Xerox‚ an organization dealing in consumer printer‚ aggressive approach is noticeable in the techniques utilized to
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that the price elasticity of demand for domestic students is -1.2 and for foreign students is -1.6. He is particularly worried about the effect of the fee increase. Mr. Chatterjee is also considering a change in promotional expenditure. This currently amounts to 2% of total revenues and it is estimated that the promotional elasticity of demand is 0.1. It is also estimated that variable costs per student are Rs.60‚000. Questions 1. Why might Mr. Chatterjee’s estimates of the relevant price elasticity
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Activities/Products Impero Escana Driftwood Set up costs: 12‚200 Cost driver: number of set ups. Total number of set ups: 5 (12‚200/5) x 2 = 4‚880 (12‚200/5) x 2 = 4‚880 (12‚200/5) x 1 = 2‚440 Purchasing and checking wood edging costs: 8‚000 Cost driver: wood edging per cabinet Total number of meter per wood edging: 8 meters (8‚000/8) x 4 = 4‚000 (8‚000/8) x 4 = 4‚000 (8‚000/8) x 0 = 0 Purchase of wood costs: 5‚100 Cost driver: wood (meters) per cabinet Total
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The High Cost of Low Prices Summary The activist Robert Greenwald produced a documentary named Wal-Mart: High Cost of Low Prices to enlighten Americans of the effects this major company has on society. In this documentary‚ Greenwald interviews former employees from different ranks. Greenwald also uses crime rate statistics to demonstrate the lack of surveillance in the parking lot of the store. The producer also interviews the Chinese factory workers who are exploited in China. He also points
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PRICE WARS: THE COST OF A COMPETITIVE BEHAVIOUR Introduction Price wars have racked industry after industry in recent years: from personal computers to mobile phones‚ from fast-food restaurants to airlines‚ from grocery retailing to computer software‚ from beers to frozen diet dinners‚ from automobile tires to disposable diapers‚ from detergents to underwear. All too often‚ there are no winners and few healthy survivors. Price wars indeed represent one of the extreme forms of competitive interplay
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WALMART High cost of low prices As Wal-Mart CEO Mike Duke indicated in an October 2008 speech to suppliers in Beijing‚ Walmart’s goal is to operate "a supply chain where goods are made in a way that protects our planet; where customers feel good about the safety‚ quality and durability of the products they buy; and where workers are paid well and treated well with the respect and dignity they deserve. To achieve this‚ we are expecting more of ourselves at Wal-Mart‚ and expecting more of our
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Wal-Mart: The High Cost of Low Price The Industrial Revolution was a period in the late 1700s and early 1800s where changes in agriculture‚ manufacturing‚ mining‚ transportation‚ and technology had a large effect on economic‚ social‚ and cultural conditions. The first industry to be industrialized was the textile industry in Britain. However‚ not everything resulting from the industrial revolution was good. In fact‚ the pollution‚ poor working conditions‚ and poor living conditions in the industrial
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