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Provide 1 response to each student post. Each response should be 150 words each. Turnitin is being used to check for plagiarism and Please use APA format. Collapse Subdiscussion Mark Engel Mark Engel...

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Provide 1 response to each student post. Each response should be 150 words each. Turnitin is being used to check for plagiarism and Please use APA format.

Collapse Subdiscussion Mark Engel

Mark Engel

XXXXXXXXXXYesterday Jun 5 at 6:20pm

Hi Marcus, thanks for sharing your post. Looks like your response and mine are the exact opposite as I would bid my costs low in hopes of retaining future work with that company for the long term. I like your comments on how the company may go the other way on you if your bid comes in too low as a perception of inexperience, I really never thought about it that way.


Collapse Subdiscussion Jan Tucker

Jan Tucker

XXXXXXXXXX:52am Jun 6 at 4:52am

I appreciate your post Marcus. Buyers make buying decisions based on a comparison of current and future prices. They are motivated to buy goods when the prices are low and less motivated as the prices increase. This makes this whole concept of anticipating future business even trickier. Would offering a lower price on a bid today, guarantee the bidder future business later? Is it worth taking the risk by underbidding the contract?




Answered Same Day Jun 07, 2021

Solution

Dr. Smita answered on Jun 07 2021
149 Votes
@Mark Engel
My only bone of contention in bidding low and getting the contract is that with extremely low revenues I may not be able to ca
y on the execution of the project smoothly and ultimately it will totally downturn my business. As a matter of fact, I believe both establishing a business and creating goodwill for your business is not an overnight event to be hosted. It takes time and perseverance. Also, as per the rule of profit maximization, the marginal revenues must equate marginal cost and the difference between the...
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