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Managerial Economics - Essay Example

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In the paper “Managerial Economics” the author discusses four factors among many that can affect the decision to pursue an MBA degree in the Kansas City area. This is a price that is affordable and should not represent a big chunk of the available income or savings…

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Subject: Macro & Microeconomics
Type: Essay
Level: College
Pages: 2 (500 words)
Downloads: 2

Extract of sample "Managerial Economics"

Q3: Price discrimination is the practice of charging customers different prices for the same product because of factors like the capacity to pay, geography, or order size. Some universities practice price discrimination with financial aid, allowing them to charge rich kids higher fees and extending scholarships or tuition discounts to students from poorer families. If a theater showing Avatar charges less if they watch before 6:00 p.m., then it practices price discrimination to encourage more viewers on off-peak hours.

Would I watch it before 6:00 p.m.? It would depend on whether I am available, how much I can save, and what entertainment substitutes there are. The benefits of the lower price must be equal to or exceed the costs of my availing it.Questions:1. List four factors that affect the demand for MBA degrees in the greater Kansas City area and How those factors affect the demand for MBA. Not that I am not asking about a company hiring a person who has an MBA degree, I am asking about a person like you who is pursuing an MBA degree.2. List three things you purchased in the past two weeks and tell whether your demand for goods or services was/is elastic or inelastic and why.

Specifically, what was/is it about the good or service that made your demand elastic or inelastic?3. What is price discrimination? Do universities practice price discrimination? If you are a customer of a firm that is practicing price discrimination to do with going to see Avatar before 6 Pm?

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