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15 - a sophisticated and costly information system can...

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15-10 Determining the best approach to pricing requires a cost- benefit trade-off. While the marginal-cost, marginal-revenue paradigm results in a profit-maximizing price, only a
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Unformatted text preview: a sophisticated and costly information system can collect marginal-cost data. Thus, the firm will incur greater cost in order to obtain information for better decisions....
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