Malcolm has decided that he wants to open up his own law practice. the time has come to establish prices for his services. due to his extensive experience and legal background, he believes that his fees should not relate directly to the time or effort spent on specific cases. now that malcolm has chosen the pricing strategy he wants to use, what is his next step? a. evaluating competitors' pricesb. choosing a basis for setting pricesc. determining the final priced. assessing the target market's evaluation of pricee. developing pricing objectives

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?