Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Question
Chapter 14, Problem 4E
To determine
To categorize: The given products list into the given categories.
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Sort the following products into those priced with two-part tariffs, user charges only, or lump-sum access fees only: pay-per-view movies on cable TV, pay phones, Netflix, iTunes, country club membership, soda from vending machines, laundromats, cell phones, season ticket holders with seat rights.
A Caterpillar tractor one of the largest farm machinery in the world has requested for your services on pricing policy for its product. One of the things the company would like to to know is how much a 5% increase in price is likely to reduce the firm’s sales. What could you require in order to advice?
Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSR's products is fencing used on downhill courses. The fence product comes in 150-
foot rolls and sells for $215 per roll. However, RSR offers quantity discounts. The following table shows the price per roll depending on order size:
Quantity Ordered
From
To
1
60
61
120
121
240
241
and up
Price per Roll
$215
$195
$175
$155
Click on the datafile logo to reference the data.
DATA file
(a) Use the XLOOKUP function with the preceding pricing table to determine the total revenue from these orders.
(b) Use the COUNTIF function to determine the number of orders in each price bin.
From
To
Price per Roll
Number of
Orders
1
60
$215
61
120
$195
121
240
$175
241
and up
$155
172
13
0.0
Chapter 14 Solutions
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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