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How is a perfectly competitive firms marginal cost curve related to its supply curve?
a perfectly competitive firms supply curve will be the portion of the marginal cost curve which lies above the average variable cost curve (AVC)..this will be due to the firms unwillingness to supply below the price in which they could cover their variable costs
What is the lowest point on a firms short run supply curve?
The minimum is price=average cost below this price supply=0
Which of the following describes the possible pricing pattern of firms in perfect competition?
each firm charges a different price to allow for difference fixed cost
What steps does the firm need to take to reconcile labor supply and labor demand?
Labor supply, and demand is what determines the cost of Labor. Firms must consider their margin, pricing policy, improvement costs to raise productivity, market share, and competition, to arrive at a labor level reconciliation. Or The first step a firm needs to take to reconcile labor supply and labor demand is to analyze what problems need to be resolved. The goal is to have the labor supply, which is made up of the hours employees work, equal the labor demand, which is the work that needs to be done. Some firms hire outside consultants to do this for them.
What are the various Principles of forward and future pricing?
The principles of forward and futures pricing are based on concepts like arbitrage, cost of carry, and market expectations. Arbitrage ensures that there are no price discrepancies between the spot and futures markets, while the cost of carry accounts for storage, interest, and other holding costs associated with the underlying asset. Additionally, futures prices reflect market expectations regarding future supply and demand conditions. These principles help in determining fair pricing for contracts based on the underlying asset's characteristics and market dynamics.
Why do firms use cost price pricing for supply contracts?
They are guaranteed a profit.
How is a perfectly competitive firms marginal cost curve related to its supply curve?
a perfectly competitive firms supply curve will be the portion of the marginal cost curve which lies above the average variable cost curve (AVC)..this will be due to the firms unwillingness to supply below the price in which they could cover their variable costs
What is the differences between cost-based pricing or market-based pricing?
Cost based pricing uses the costs that were invested in producing the goods. In market based pricing, supply and demand are the key factors that determine price.
What is the lowest point on a firms short run supply curve?
The minimum is price=average cost below this price supply=0
Interest must be charged on which one what types of contracts with Advance Payments?
FAR 32.407(c) Interest shall be required on contracts that are for acquisition, at cost, of property for Government ownership, if the contracts are awarded in combination with, or in contemplation of, supply contracts or subcontracts.
Which of the following describes the possible pricing pattern of firms in perfect competition?
each firm charges a different price to allow for difference fixed cost
What has the author K Dixon written?
K. Dixon has written: 'Cost determination and cost recovery pricing in nonbusiness situations' -- subject(s): Finance, Research and development contracts, Universities and colleges
Contracting procurements would you most likely require cost or pricing data?
In contracting procurements, cost or pricing data is most likely required for competitive bids, especially when evaluating proposals for contracts exceeding the simplified acquisition threshold. This data helps ensure that the prices are fair and reasonable, allowing for informed decision-making. Additionally, when contracts involve significant cost-sharing or cost-reimbursement arrangements, detailed cost data becomes essential for accurate budgeting and oversight.
What steps does the firm need to take to reconcile labor supply and labor demand?
Labor supply, and demand is what determines the cost of Labor. Firms must consider their margin, pricing policy, improvement costs to raise productivity, market share, and competition, to arrive at a labor level reconciliation. Or The first step a firm needs to take to reconcile labor supply and labor demand is to analyze what problems need to be resolved. The goal is to have the labor supply, which is made up of the hours employees work, equal the labor demand, which is the work that needs to be done. Some firms hire outside consultants to do this for them.
What are the various Principles of forward and future pricing?
The principles of forward and futures pricing are based on concepts like arbitrage, cost of carry, and market expectations. Arbitrage ensures that there are no price discrepancies between the spot and futures markets, while the cost of carry accounts for storage, interest, and other holding costs associated with the underlying asset. Additionally, futures prices reflect market expectations regarding future supply and demand conditions. These principles help in determining fair pricing for contracts based on the underlying asset's characteristics and market dynamics.
If TINA applies to an acquisition actual cost data from previous contracts regardless of contract type?
If TINA (Truth in Negotiations Act) applies to an acquisition, it requires that the contractor provide certified cost or pricing data when the contract price exceeds a certain threshold. This means that actual cost data from previous contracts, regardless of contract type, can be used as a basis for negotiation, as long as it is relevant and allows for an accurate assessment of pricing. However, the applicability of such data must align with the specific requirements and context of the new contract being negotiated. Ultimately, the focus is on ensuring fair and reasonable pricing based on reliable cost information.
Disadvantages of Cost-Based pricing?
The cost based pricing may overlook costs that are not monetary. Cost based pricing may overlook inefficiency Cost based pricing may not take advantage of consumer surplus.
