PRICING: in theory and practice
Abstract
If you ask a student of economics what price is, he will answer that it is the factor which equates supply with demand. He is likely to add that, in a competitive market, price will tend to settle at a level at which no excess profits are made by the producers and the distributors, while a monopoly will fix prices so that its profits should be at a maximum. It is generally agreed, I think, that whether or not these statements contain an element of truth, they are of no use whatever to the businessman.
Citation
GABOR, A. (1967), "PRICING: in theory and practice", Management Decision, Vol. 1 No. 2, pp. 28-33. https://doi.org/10.1108/eb000785
Publisher
:MCB UP Ltd
Copyright © 1967, MCB UP Limited