#5 box (3-20-20Question Completion Status109474 BL 109474elBIS 192861 196829 C Sign Inackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_273651_1&course_id= 2804207_1&content_id=_4710190_1&stem319R 04. PricWQUESTION 5Refer to information in table 1. A cell phone company wants to devise pricing based on potential buyers' differences in preferences. Differences in preferencesare shown by the group elasticities in column 2. Marginal cost (MC) of cell phone is $200.Working adults$High income households SSenior citizensSStudentsConsumer groups@#2323eSCIf the base (undiscounted) price of the cell phone is $1000, based on the information in table 1 calculate the cell phone price for each group using mark-uppricing rule.Consumer groups$Table 1: cell phone elasticities by consumer groups and marginal costsConsumer groupsPricePrice elasticity ofMCdemand-1.25-1.35Working adultsHigh income households4Senior citizensStudentsWorking adultsSHigh income households SClick Save and Submit to save and submit. Click Save All Answers to save all answers.Price1.001.01000.0400.7Pricer7718 205829Ab 2953621,000.0771.4%511 tOll-1.7-26Mhpy27$200$200&$200$2000u* 008□:(Tak x b9O).0 - Weeklynccu.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_Question Completion Status:Consumer groupsWorking adultsHigh income householdsSenior citizensStudentsConsumer groupsWorking adults$High income households $Senior citizens$StudentsConsumer groups$$$$QUESTION 6SWorking adultsSHigh income households SSenior citizensSStudentsSPrice1,000.0771.4485.7400.0Price1,001.01001.0401.7Price7701,001.01000.0401.7770Click Save and Submit to save and submit. Click Save All Answers to save all answers.Mhp

Pricing: The market situation where a single seller faces the entire market demand all by himself is…

Question Completion Status QUESTION 5 Refer to information in table 1. A cell phone company wants to devise pricing based on potential buyers' differences in preferences. Differences in preferences are shown by the group elasticities in column 2. Marginal cost (MC) of cell phone is $200. Working adults High income households S Senior citizens S Students Consumer groups Table 1: cell phone elasticities by consumer groups and marginal costs Consumer groups Price elasticity of MC Price S Working adults High income households Senior citizens Students If the base (undiscounted) price of the cell phone is $1000, based on the information in table 1 calculate the cell phone price for each group using mark-up pricing rule. O Consumer groups Price 1,001.0 1000.0 400.7 771 Price Working adults S High income households S Click Save and Submit to save and submit. Click Save All Answers to save all answers. demand -1.25 -1.35 1,000.0 771.4 -1.7 -2 $200 $200 $200 $200

Question Completion Status QUESTION 5 Refer to information in table 1. A cell phone company wants to devise pricing based on potential buyers' differences in preferences. Differences in preferences are shown by the group elasticities in column 2. Marginal cost (MC) of cell phone is $200. Working adults High income households S Senior citizens S Students Consumer groups Table 1: cell phone elasticities by consumer groups and marginal costs Consumer groups Price elasticity of MC Price S Working adults High income households Senior citizens Students If the base (undiscounted) price of the cell phone is $1000, based on the information in table 1 calculate the cell phone price for each group using mark-up pricing rule. O Consumer groups Price 1,001.0 1000.0 400.7 771 Price Working adults S High income households S Click Save and Submit to save and submit. Click Save All Answers to save all answers. demand -1.25 -1.35 1,000.0 771.4 -1.7 -2 $200 $200 $200 $200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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