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MG2452 Engineering Economics And Finance Accounting Hand Written Lecture Notes - VenkatRaman Edition

Engineering Economics And Finance Accounting Premium Lecture Notes, Prepared by Venkat raman. Specially for Computer Science Engineering . Syllabus Covered based on Anna University B.E Computer Science Engineering


UNIT-4 PRICING (Pages:13)

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Scope of managerial economics
Concept of managerial economics
Nature of managerial economics
1. Similar to microeconomics
2. Operation against backdrop of macro economics
3. Normative statement
4. Perspective actions
Scope of managerial economics
Relationship with other disciplines
1. Economics and managerial economics
2. Operations research
3. Mathematics
4. Statistics economics
Characteristics of managerial economics
Principle of economics
1. Theory of firm
2. Theory of consumer behavior
3. Theories associated with different marked structure

1. Income effect
2. Substitution effect
3. Principle of different uses
4. Law of diminishing marginal utility
Exception of demand
1. The price of related goods
2. Tastes
3. The number and price of substitute goods
4. The number and price of complement
5. Income
6. Distribution of income
7. Exceptation of future price changes

Cost concept
Opportunity cost and actual cost
Economic cost concept
Marginal uses of production
Economic of scale
Internal economics
Classification of internal economics
1. Technical economics
2. Managerial economics
3. Commercial economics
4. Financial economics
5. Risk bearing economics
6. Marketing economics
7. R and D economics
Return to scale
1. Law of increasing return
2. Law of constant
3. Law of decreasing
Factors that influence finalization of product cost
1. Material cost
2. Labour cost
3. Expenses
Material cost
1. Direct material cost
2. Indirect material cost

Price discrimination
Price discrimination in first degree
Price discrimination of second degree
Possibility of price degree
Administered pricing mechanism
Basic objectives of pricing
Determinants of price
1. Internal
2. External
Internal factors
1. Organizational factors
2. Marketing mix factors
3. Product differential
4. Cost
External factors
1. Demand
2. Supplies
3. Buyers
4. Government
Perfect competition
1. Homogeneity of product
2. Many buyers and sellers
3. Mobility of resources
4. Freedom of entry andexit
5. Perfect market
Marginal revenue
Cost plus pricing
1. Need based pricing
2. Comparative reasonable price
3. Pricing by norm
4. Cost based pricing
Advantages of cost plus pricing
Disadvantages of cost pricing
Pricing policies
1. Skim pricing
2. Penetration pricing
3. Mixed pricing
4. Destructive pricing
5. Differential or discrimination pricing
6. Absorption pricing
7. Marginal cost pricing
8. Negotiable pricing
9. Single pricing
10. Market pricing
11. Sealed bid pricing
Advantages of marginal cost
Disadvantages of marginal cost
Four methods in pricing
1. Cost plus method
2. Break even analysis
3. Target rate of return
4. Leadership pricing method
5. Going rate pricing
6. Marginal cost pricing
Price determined in monopoly
Causes of monopoly

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