Various Costs (MBA notes, case studies)

Management (MBA) questions and case studies on Non-monetary costs.

Q) Complete the hypothetical table below and explain in brief, the behaviour of each type of cost.

Total Fixed Cost
Total Variable Cost
Total Cost
Average Fixed Cost
Average Variable Cost
Average Total Cost
Marginal Cost

Q) Summer vacations for the kids are round the corner. This time around, you have decided to surprise the kids with the Big Summer Holiday that you and your better half had been contemplating since long. Choosing between a 7-day European dreams or The best of U.S or Amazing Australia or the umpteen options flashing on various travel sites, is indeed a complicated decision; especially in the backdrop of a budget constraint. Quite obviously, while the flashy packages offer the ‘oh-so’irresistable’ deals, these prices are not just the only costs that the customer has to incur. The real cost of the service to the customer is an amalgamation of many inter-related monetary and non-monetary costs.
Discuss the various search, purchase and post-purchase costs that you will have to incur in the purchase of the holiday package.

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