The price of a product is influenced by a number of factors, such as manufacturing cost, competition, market conditions, and quality of the product.
An organization, while setting the prices of its products, needs to ensure that prices must cover costs incurred for producing products and profit margins. If the price of a product does not cover costs, then the financial resources of the organization would exhaust, which would ultimately result in the failure of business.
In this “Product Pricing - Applied Economics” you will learn about following topics:
- Introduction to Product Pricing
- Concept of Product Pricing
- Types of Pricing Objectives
- Profit-Oriented Objectives
- Sales-Oriented Objectives
- Status Quo-Oriented Objectives
- Concept of Market Equilibrium
- Concept of Firm’s Equilibrium
- Price and Output Determination of a Firm under Perfect Competition
- Price and Output Determination of a Firm under Monopoly
- Total Revenue and Total Cost Approach
- Marginal Revenue and Marginal Cost Approach
- Short-Run Equilibrium of Firm
- Long-Run Equilibrium of Firm
- Short-Run Equilibrium of Industry and The firm under Perfect Competition
- Long-Run Equilibrium of Firm and Industry under Perfect Competition Market
- Effect of Tax upon Market Equilibrium and Price
- Effect of Subsidy upon Market Equilibrium and Price
- Linear Programming
- Cost-Benefit Analysis (CBA)
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BCA 6th Semester Applied Economics Notes:
Unit I: Introduction Of Economics - Applied Economics
Unit II: Theory Of Consumer Demand - Applied Economics
Unit III: Analysis Of Cost And Revenue - Applied Economics
Unit IV: Theory Of Production - Applied Economics
Unit VI: Factor Pricing - Applied Economics
Unit VII: National Income - Applied Economics
Unit VIII: Theory Of Employment - Applied Economics
Unit IX: Consumption Saving And Investment Functions - Applied Economics
Unit X: Business Cycle - Applied Economics
Unit XI: The Mechanism Of Foreign Exchange - Applied Economics
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