0
What is the penalty if Cashier did not charge real price for product?
Wiki User
∙ 15y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Price ceiling is a maximum legal price that sellers can charge for a product or service. True or False?
True
What happens to a monopolistically competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
What happens to monopolistic competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
What happens to a monopolistically competitive firm that begins to charge an excessive price for it's product?
Consumers will substitute a rival's product.
Why does differentiating its product allow an oligopoly to charge a higher price?
Prevents new firms from entering the industry
How can a cashier help you?
They can confirm the price of items; charge you correctly; give you the correct change.
Price ceiling is a maximum legal price that sellers can charge for a product or service. True or False?
True
What happens to a monopolistically competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
What happens to monopolistically competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
What happens to monopolistic competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
What happens to a monopolistically competitive firm that begins to charge an excessive price for it's product?
Consumers will substitute a rival's product.
When many companies over charge for their product what do the federal government establish?
price control
How does advertising of a product increase it's price in the market?
Advertising increases awareness, which in turn increases demand, which then makes the product more desirable/harder to get, which then increases the amount that the provider can charge for the product, thus increasing the price that they ask for it. The cost of advertising must be added to the price of the product. The larger, more expensive the advertising campaign, the more cost must be added to the price of the product.
Why does differentiating its product allow an oligopoly to charge a higher price?
Prevents new firms from entering the industry
What does Creaming the market mean?
Creaming the market is when a firm or business may charge a very high price for a certain product. The firm will continue to charge a very high price until rival products appear.
What happens to a monopolistically competitive firm that begins to charge an excessive price for its products?
Consumers will substitute with a rival's product.
What do you call an agreement made between different companies to charge the same amount for a product?
Price fixing (it is illegal).
