Exam (elaborations)

HBS CORE Economics for Managers Module 1: Foundation of Customer Demand Written Exam.

Rating

Sold

Pages

Grade

A+

Uploaded on

12-09-2024

Written in

2024/2025

HBS CORE Economics for Managers Module 1: Foundation of Customer Demand Written Exam. Why is a benchmark important? - CORRECT ANSWER For firms to know if they are pricing well they neeed to compare to something WTP (willingness to pay) - CORRECT ANSWER The maximum price you are willing to pay What is a price above your WTP considered? - CORRECT ANSWER An irrational decision Are price and WTP the same? - CORRECT ANSWER Not at all How to start comparing pricing to other firms - CORRECT ANSWER Start w/ your own WTP then see why exactly your WTP differs from others. Does a price of $1 mean a WTP of $1? - CORRECT ANSWER It means a WTP of at least a $1 Extrinsic - CORRECT ANSWER Things you can determine w/o asking (Age,Gender,Income, Education) intrinsic - CORRECT ANSWER Someones risk tolerance, passion (past behavior can help determine intrinsic factors) What is the relationship determine Market Value of a company and WTP? - CORRECT ANSWER If no new shares are issued then they are equal

Show more Read less

Institution

Course

Whoops! We can’t load your doc right now. Try again or contact support.

Report Copyright Violation

Written for

Institution: Harvard University
Course: HBS.

All documents for this subject (14)

Document information

Uploaded on: September 12, 2024
Number of pages: 3
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

Subjects

hbs
hbs core economics for managers module 1 foundati

Content preview

HBS CORE Economics for Managers
Module 1: Foundation of Customer
Demand Written Exam.

Why is a benchmark important? - CORRECT ANSWER For firms to know if they are pricing well they
neeed to compare to something

WTP (willingness to pay) - CORRECT ANSWER The maximum price you are willing to pay

What is a price above your WTP considered? - CORRECT ANSWER An irrational decision

Are price and WTP the same? - CORRECT ANSWER Not at all

How to start comparing pricing to other firms - CORRECT ANSWER Start w/ your own WTP then see why
exactly your WTP differs from others.

Does a price of $1 mean a WTP of $1? - CORRECT ANSWER It means a WTP of at least a $1

Extrinsic - CORRECT ANSWER Things you can determine w/o asking (Age,Gender,Income, Education)

intrinsic - CORRECT ANSWER Someones risk tolerance, passion (past behavior can help determine
intrinsic factors)

What is the relationship determine Market Value of a company and WTP? - CORRECT ANSWER If no new
shares are issued then they are equal

What does the rectangle under the demand curve represent? - CORRECT ANSWER Revenue

R202,75

Get access to the full document:

100% satisfaction guarantee

Immediately available after payment

Both online and in PDF

No strings attached

Get to know the seller

ROSEGRADES

3,5

(31)

Document also available in package deal

Get to know the seller

ROSEGRADES Nursing

View profile

Sold

215

Member since

2 year

Number of followers

Documents

12158

Last sold

1 week ago

TOPGRADE

I HELP STUDENTS WITH REVISION MATERIALS WITH BETTER GRADES GUARANTEED. BEST OF LUCK.

3,5

31 reviews

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their exams and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can immediately select a different document that better matches what you need.

Pay how you prefer, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card or EFT and download your PDF document instantly.

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ROSEGRADES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R202,75. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews) 48586 documents were sold in the last 30 days Founded in 2010, the go-to place to buy summaries for 16 years now

HBS CORE Economics for Managers Module 1: Foundation of Customer Demand Written Exam.

Written for

Document information

Subjects

Content preview

More courses for Harvard University >

Document also available in package deal

Get to know the seller

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Didn't get what you expected? Choose another document

Pay how you prefer, start learning right away

Frequently asked questions

What do I get when I buy this document?

Satisfaction guarantee: how does it work?

Who am I buying this summary from?

Will I be stuck with a subscription?

Can Stuvia be trusted?