Firms should begin their pricing decisions by:
a. assessing total marginal cost of the product
b. identifying the value drivers in each customer segment
c. researching the market price of competitors
d. none of the above
a
Economics
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Which of the following is an example of a geographic monopoly?
a. a store in Childersburg that sells only shoelaces b. the only gas station in a radius of one mile c. a store in Sycamore that sells only scrap metal d. the only restaurant in a radius of 200 miles
Economics
Consumer surplus ________
A) equals total revenue minus marginal cost B) is maximized when the market outcome is efficient C) equals total revenue minus opportunity cost D) plus producer surplus is maximized when resources are used efficiently
Economics