Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could you please help me with my assignment below. The instructions concerning this assignment as well as the grading rubric are reproduced below. Pricing strategy

Could you please help me with my assignment below.

The instructions concerning this assignment as well as the grading rubric are reproduced below.

Pricing strategy varies significantly across different market structures. The pricing guidelines in a monopoly market are relatively straightforward. Since the company is the only producer offering the product, it can mark-up the price as far as the customer can bear. The pricing strategies for a producer operating in a perfect competition structure are alsofairly intuitive. They are price takers, and hence price is set at the marginal cost of the product. This isdue to the fact thatthere are many firms offering nearly identical products. However, there is optimal pricing for the market structures offering differentiated products with many competitors (oligopoly) or a few producers (monopolistic competition). These are much more complex and involved. It has been stated that differentiation in products that creates differences in customer valuation is the most prevalent type of competition. In such markets pricing strategies may include the three C's of cost, competition, and customer.

Develop a paper detailing an analysis of market structures and relating pricing strategies that are suitable for each of these structures. Furthermore, include a real-world example of pricing strategy for a specific company by identifying its market structure.

The area's I need to discuss are the following -

1. Perfect Competition

1.1. Description

1.2. Pricing Strategies

2. Monopolistic competition

2.1. Description

2.2. Pricing Strategies

3. Oligopoly

3.1. Description

3.2. Pricing Strategies

4. Monopoly

4.1. Description

4.2. Pricing Strategies

5. Case Study

6. Conclusion

References

I am having the most difficulty finding additional references on these subjects that are not like investapedia...... I If I could get a few sources a somewhat of a outline that would be really helpful.

thank you

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th Edition

978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018

Students also viewed these Economics questions