P2 The Pricing Decision
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1
What is PED
2
Explain PED
3
What does Elastic demand mean
4
What does Inelastic demand mean
5
What is Cost plus pricing
6
What is Marginal cost plus pricing
7
What is relevant costing/minimum pricing
8
What is Penetration pricing
9
What is Market Skimming
10
What is Price Discrimination
11
What is Complementary product pricing (bundling)
12
What is Volume discounting
13
What is product line pricing
14
How do you calculate the demand curve
15
Example of calculating the demand curve
16
How do you calculate pricing for profit maximisation
Profit is maximised where marginal revenue equals marginal cost