stronger parts are needed for their operation‚ this extra weight will reduce their performance levels. The turbo diesel engine will gain a higher percentage of the increase in horsepower but will not automatically become faster than a similar sized gasoline engine with a turbocharger offering the same amount of boost. Complexity is reduced in a diesel engine as there is no ignition system but this is not a total advantage as they can be noisy and may require frequent maintenance intervals when compared
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Price discrimination in Broadway Theatre Phillip Leslie∗ A common thread in the theory literature on price discrimination has been the ambiguous welfare effects for consumers and the rise in profit for firms‚ relative to uniform pricing. In this study I resolve the ambiguity for consumers and quantify the benefit for a firm. A model of price discrimination is described which includes both second-degree and third-degree price discrimination. The model is designed to analyze ticket sales for a Broadway
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SINHGAD INSTITUTE OF BUSINESS MANAGEMENT (Affiliated to Mumbai University) To Study the Hike in Fuel Prices in Mumbai from Period January 2011 To September 2013‚ And It’s Impact On Customers Buying Behavior In Automobile/Car Sector. Guided by‚ Dr. Rhizu Krishna Submitted By‚ SwarupaMandhare-90 Tauseef Ahmmed-91 UrviGohil-92 VickyAshar-93 VijayTidole-94 Vinita Kale-95 Declaration:- To study the consumer buying behavior‚ our group has conducted a survey among 100 people with
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http://news.bbc.co.uk/2/hi/7048600.stm Wednesday‚ 2 January 2008‚ 22:36 GMT What is driving oil prices so high? Oil prices have hit a record high at $100 a barrel. Prices have doubled from the rates seen in January 2007 and more than quadrupled since 2002. What factors are causing this unremitting increase and what are the likely consequences for consumers and the global economy? What is causing the latest price spike? This was triggered by concerns about violence in Nigeria and Algeria as well as the
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the market power to set the price of a homogeneous product. Because the conditions for perfect competition are strict‚ there are few if any perfectly competitive markets. Still‚ buyers and sellers in some auction-type markets‚ say for commodities or some financial assets‚ may approximate the concept. Perfect competition serves as a benchmark against which to measure real-life and imperfectly competitive markets. Price Discrimination | | Most businesses charge different prices to different groups
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Apple Price Cut Case 1. To what extent the iPhone pricing strategy is similar to the iPod pricing strategy? How do you explain that the iPod price cut did not lead to such a level of customers’ protest? Answer: Both iPhone and iPod have experienced a large amount of price cut in their product lifecycle. In this document‚ we can find that iPod was launched in October 2001. Tough relatively high priced for an MP3 player‚ it was hugely demanded and remains popular till date though there was
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STICKY PRICES AND THEIR MACROECONOMIC CONSEQUENCES To understand the economic fluctuations‚ many economists have focused attention on economic coordination problems. Normally‚ the price system efficiently coordinates what goes on in an economy even in a complex economy. The price system provides signals to firms as to who buys what‚ how much to produce‚ what resources to use‚ and from whom to buy. For example‚ if consumers decide to buy fresh fruit rather than chocolate‚ the price of fresh fruit
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Supply & Demand‚ and Price Elasticity All things in our society are connected in some way‚ for example‚ how humans relate to each other. Complex ideas and analysis are not without their own set of unique connections. The intricate theories of economics are a prime example of this connection. To gain an accurate understanding of how supply and demand are connected‚ and its role within the market‚ one must analyze the functions of each as separate entities‚ and how they relate to economics as a whole
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Supply‚ Demand and Price Elasticity People and companies make economic decisions on a daily basis by deciding how much of something they will buy and what prices they are willing to pay for the goods or services. Through individual decision-making‚ consumers determine supply demands for their needs and wants‚ and companies decide which goods and how many goods are to be sold‚ and how much to charge consumers. There are many fundamental concepts and definitions that are important to understanding
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much the demand for a product changes when there is a change in the price of another product. Determinants of Price Elasticity of Demand. is a measure used in economics to show the responsiveness‚ or elasticity of the quantity demanded of a good or services to a change in its price. Determinants of Price Elasticity of Supply. is a measure of how much the supply of a product changes when there is a change in the price of the products. Elasticity. Is the measure of responsiveness. It
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