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July 22, 2018 

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TARGET MARKET: The specific group of individuals who have been selected as the most likely potential buyers for products, ideas, or services. The company develops a marketing mix to satisfy this group of buyers. This group has been selected, after process of determining similar buying habits, attitudes, and other demographics, to be the best for purchasing the company’s product.

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AVERAGE-COST PRICING: A regulatory policy used for public utilities (especially those that are natural monopolies) in which the price received by a firm is set equal to the average total cost of production. The great thing about average-cost pricing is that a regulated public utility is guaranteed a normal profit, usually termed a fair rate of return. One bad thing about average-cost pricing is that marginal cost is less than average total cost meaning that price is greater than marginal cost. As such, the public utility is NOT operating according to the price equals marginal cost (P = MC) rule of efficiency.

     See also | regulatory policy | public utility | natural monopoly | firm | price | average total cost | normal profit | efficiency | marginal-cost pricing |


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AVERAGE-COST PRICING, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: July 22, 2018].


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MARKET EQUILIBRIUM, GRAPHICAL ANALYSIS

An analysis of market equilibrium using a graph that combines a demand curve and a supply curve. A graphical analysis of the market is used to ascertain information such as market equilibrium, equilibrium price, equilibrium quantity, shortage, and surplus. This is one of two basic methods of analyzing market equilibrium. The other is a numerical analysis using demand and supply schedules.

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Today, you are likely to spend a great deal of time at an auction hoping to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for attractive cable television service repair people.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"You can't build a reputation on what you are going to do."

-- Henry Ford, automaker

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