If prices are set too _____, _____ demand may result in reduced sales and _____ revenues...
If prices are set too _____, _____ demand may result in reduced sales and _____ revenues since customers might feel that they are not receiving adequate value for their money.
Group of answer choices
High, higher, higher.
High, lower, lower.
Low, higher, higher.
Low, lower, lower.
Homework Answers
B.High, lower, lower.
If prices are set too high, lower demand may result in reduced sales and lower revenues since customer might feel that they are not receiving adequate value for their money.
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If prices are set too _____, _____ demand may result in reduced
sales and _____ revenues...
7) If the government forces a monopoly to set its price equal to its marginal cost...
7) If the government forces a monopoly to set its price equal to its marginal cost and there are high economies of scale: Group of answer choices the monopolist’s costs will exceed revenue. the market will be more efficient than if the prices was equal to average cost. the monopolist is more likely to innovate. the monopolist will earn more profit than if they were unregulated. 8) If production costs and profits are similar, in a competitive market prices will...
Since firms that are not in perfect competition face downward-sloping demand curves, we know that to...
Since firms that are not in perfect competition face downward-sloping demand curves, we know that to increase sales quantity they must lower prices. As a result: Group of answer choices Product Price is less than Marginal Revenue Price and Revenue are no longer related Price and Revenue are equal to each other Marginal Revenue is less than Product Price
a. When a hotel's room revenue forecasts are consistently and unrealistically too low they... A. cause...
a. When a hotel's room revenue forecasts are consistently and unrealistically too low they... A. cause unrealistic high profit expectations by the hotel's owners. B. result in over-aggressive room rate determinations and rates that are set too high. C. result in under-aggressive room rate determinations and rates that are set too low. D. produce budgeting / spending errors by overstating anticipated revenues. b. A restaurant manager served 3,000 guests last January. For this coming January, they predict a decrease in...
Prices may be fixed as a result of: Click the answer you think is right. high...
Prices may be fixed as a result of: Click the answer you think is right. high demand for the product. characteristics of a market, such as a consumer preferences. government intervention in the market. a decrease in the number of suppliers. Do you know the answer? I know it Think so Unsure No idea
Business owners are speaking about the price elasticity of demand without using the actual term Which...
Business owners are speaking about the price elasticity of demand without using the actual term Which one of the following Matements describes a good with a price elastic demand? O A With the recent economic recovery, people have more income to spend and sales are booming even at the previous prices OB. "A price won theme wont se sales and just got less money for each unit OC" don't think a price cut will make any difference to my bottom...
More shows: The article states that there needs to be more demand than supply for scalpers...
More shows: The article states that there needs to be more demand than supply for scalpers to make money. This relates to the idea of a "competitive market." If you have many choices of fairer-priced tickets, there's no reason to go for the more expensive ones. The strategy also prevents a ticket shortage, during which the last hold-outs, the scalpers, would raise their prices much higher. Beat the scalpers at their own game: By raising the prices on the upper-tier...
Question 12 Tries remaining: 2 Points out of 8.33 A price-searcher firm wants to try a...
Question 12 Tries remaining: 2 Points out of 8.33 A price-searcher firm wants to try a two-part tariff. The firm's marginal cost is a constant $10 and it will charge that as the per unit price. To complicate things, the firm has two different groups of consumers. There are 10 consumers who have a demand function given by: qp-16-0.5P. There are also 40 consumers who have a demand function given by: qp-8-0.25P Flag question If the firm charges a fee...
7, PRICES IN A MARKET ECONOMY End of Chapter Quiz Answer True (T) or False (F):...
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What do Keynesian economists think will happen when GDP is low, with regard to firms' expenses...
What do Keynesian economists think will happen when GDP is low, with regard to firms' expenses (AS)? a Because of lower demand, prices of all factors (input costs) are falling, and AS will shift to the right, compensating for any loss/left-shift in aggregate demand, returning the economy to equilibrium. b Because of lower demand, some incomes are falling yet some expenses are hard to ignore. Wages, contracts, rents are not easily scaled down with falling sales. These sticky wages keep...
4.The article mentions that when prices are low, farmers may have an incentive to plant additional...
4.The article mentions that when prices are low, farmers may have an incentive to plant additional acres. Explain why this does or does not conform with the principle of marginal analysis. Feel free to use an example of how a farmer may choose whether or not to plant an additional acre of corn to explain your answer. (2 points) 5.Using a supply and demand diagram, illustrate and explain how we might expect equilibrium price and quantity for corn to change...
Prices may be fixed as a result of: Click the answer you think is right. high demand for the product. characteristics of a market, such as a consumer preferences. government intervention in the market. a decrease in the number of suppliers. Do you know the answer? I know it Think so Unsure No idea
Business owners are speaking about the price elasticity of demand without using the actual term Which one of the following Matements describes a good with a price elastic demand? O A With the recent economic recovery, people have more income to spend and sales are booming even at the previous prices OB. "A price won theme wont se sales and just got less money for each unit OC" don't think a price cut will make any difference to my bottom...
Question 12 Tries remaining: 2 Points out of 8.33 A price-searcher firm wants to try a two-part tariff. The firm's marginal cost is a constant $10 and it will charge that as the per unit price. To complicate things, the firm has two different groups of consumers. There are 10 consumers who have a demand function given by: qp-16-0.5P. There are also 40 consumers who have a demand function given by: qp-8-0.25P Flag question If the firm charges a fee...
7, PRICES IN A MARKET ECONOMY End of Chapter Quiz Answer True (T) or False (F): 1. The goals of all economic groups in a society are usually the same. 2. A shortage means there is too little of a product to meet the demand. 3. A surplus means that suppliers cannot keep up with the demand for a product. 4, when a market is in equilibrium, there is neither a shortage nor a surplus. 5. A surplus may exist...
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