Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price. The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility. Characters in case: Company WG Person BA Introduction: Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income. To determine: The examples of shifting the demand curve to the right to get a greater price.

Question

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Answer 1

Question

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

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Answer 2

Question

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

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Answer 4

Question

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

Expert Solution & Answer

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See solution

Answer 5

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

Answer 6

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

Answer 7

Chapter 13, Problem 2VC

a)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The examples of shifting the demand curve to the right to get a greater price.

Answer 8

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

Answer 9

b)

Summary Introduction

Case summary:

Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.

The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.

Characters in case:

Company WG

Person BA

Introduction:

Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.

To determine: The pricing decisions involved in moving along the demand curve.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 13.1 - Prob. 13.1LO Ch. 13.1 - Prob. 13.1LR Ch. 13.1 - Prob. 13.2LR Ch. 13.1 - Prob. 13.3LR Ch. 13.2 - Prob. 13.2LO Ch. 13.2 - Prob. 13.4LR Ch. 13.2 - Prob. 13.5LR Ch. 13.2 - Prob. 13.6LR Ch. 13.3 - Prob. 13.3LO Ch. 13.4 - Prob. 13.4LO

Solution Summary: The author explains how the movement of demand curve toward the right creates a price-insensitive and inelastic demand for the guitar.

Concept explainers

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Chapter 13 Solutions