Tag: pricing

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Multiple choice organisation of commerce and management marketing mix meaning and objectives of pricing pricing strategies pricing

Marginal (minimum) cost occurs at the output where __________.

  1. the total product is at a maximum.

  2. the marginal prefect of the variable factors is at a maximum.

  3. the factors are combined In their best possible proportion.

  4. the average product of the variable factors is at a maximum.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Marginal cost is related to the marginal product of variable factors. When the marginal product of a variable factor is at its maximum, the marginal cost of production is at its minimum.

Multiple choice organisation of commerce and management marketing mix meaning and objectives of pricing pricing strategies pricing

Under marketing, which of the following is considered as an ethical issue?

  1. Price discrimination

  2. Fraudulent asset valuations

  3. Issues affecting the privacy of the employer

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Price discrimination involves charging different prices to different customers for the same product, which is a significant ethical issue in marketing and competition law.