Rule of Thumb and Specific Report Explanation
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For Q2, what are the main things do I need to talk about in my answers, except for the London Hotels report?
I know for definite I need to show how the rule of thumb works, but other than that, what else?
One more thing, what is the rule of thumb? I found the rule of pricing in the text book: P = MC/(1+1/Ed), is this the correct one that I need to derive and show from the Financial Times letter? Is there any good websites or a book that explains the rule of thumb if this one is wrong?
See the attachment.
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The solution discusses the rule of thumb and specific report explanation.
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You want to talk about the British pricing policy and incorporate examples of what companies use this practice or raising prices when demand is down. You may also do some research on companies such as Dell that do not use this practice and the effects of not using this pricing policy.
What this assignment is really getting you to do is to compare the British ...
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