: You’ve just been hired to help a European furniture firm with pricing decisions as it expands to an international market. How would you explain your strategy to your new colleagues? View
: On your first day on the job at a reverse auction factory, you’ve been asked to review auctions that are currently in the works or have recently closed. Which of the following scenarios would raise a red flag that there could be a problem? View
: You’re organizing a popular and well-attended charity auction. A local artist has donated a sculpture that you believe will be popular with some bidders but may not be universally valued. Attendees have indicated that they would like for their bids to be private. How would you structure the auction in order to try to get the highest possible profit on this piece? View
: Your daughter’s school is hosting an auction to raise money for classroom resources. They’re soliciting donations from local businesses. Items will be on display and bids will be accepted throughout a long evening of activities. Parents in this community are likely to flaunt income by making large bids. What type of auction would work best? View
: Your daughter’s school is hosting an auction to raise money for classroom resources. They’re soliciting donations from local businesses. The parents who will attend range in income from low to high, but because the community is small and close-knit are unlikely to make ostentatious bids. What type of auction would work best? View
: Demand Schedule Price Quantity Sold Marginal Cost $200 100 $100 $175 250 $100 $150 400 $100 $125 600 $100 Using the demand schedule above, which price-quantity combination is most profitable for the company? View
: You’ve been asked to serve on a committee researching your company’s competition for a potential new product. Which question might the committee be most likely to examine using the competitor pricing lens? View
: You’ve been hired to improve pricing strategies for a new and expensive children’s shoe line. Your predecessor targeted primarily customers with high valuations for the clothing. How might you implement new pricing strategies? View
: You’re organizing a popular and well-attended charity auction. A company has donated an item that you’ve learned is likely to have consistently high valuations amongst potential bidders. Attendees have also indicated that they would like for their bids to be private. How would you structure the auction in order to try to get the highest possible profit? View
