Lush cosmetics corp., a u. s.-based firm, has recently started exporting cosmetics to india. lush has introduced a new range of mineral-based makeup products for the first time in the indian market. as lush has no competitors in this segment of the indian cosmetics market, it has set a very high price for its products in order to reach the premium, price-insensitive segment of the market.
this is an example of

a. a penetration pricing policy
b. a psychological pricing policy
c. bundling
d. price skimming
e. cost-based pricing policy

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

U.s. internet advertising revenue grew at the rate of r(t) = 0.82t + 1.14 (0 ≤ t ≤ 4) billion dollars/year between 2002 (t = 0) and 2006 (t = 4). the advertising revenue in 2002 was $5.9 billion.† (a) find an expression f(t) giving the advertising revenue in year t.