bidding methods

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Ally Wells answered 10 months ago

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Discuss briefly Bidding Strategies with practical examples

What is competitive bidding and how is it used for B2B pricing?

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Transrail is bidding on a project that it figures will cost $400,000 to perform. Using a...

Transrail is bidding on a project that it figures will cost $400,000 to perform. Using a 25% markup, it will charge $500,000, netting a profit of $100,000. However, it has been learned that another company, Rail Freight, is also considering bidding on the project. If Rail Freight does submit a bid, it figures to be a bid about $470,000. Transrail really wants this project and is considering a bid with only a 15% markup to $460,000 to ensure winning regardless...

Nasee construction Co. is analyzing the probability of a bidding for the construction of. a new...

Nasee construction Co. is analyzing the probability of a bidding for the construction of. a new building. In the past, Nasee's main competitor, Nana construction Co. has submitted bids 90% of the time. if NANA bids on a project, the probability that NASEE will get the project is 10%. However, if NANA does not bid on a project, NASEE's probability of getting the project increases to 70%. if NASEE gets the project, what is the probability that NANA did not...

Nasee construction Co. is analyzing the probability of a bidding for the construction of. a new...

Nasee construction Co. is analyzing the probability of a bidding for the construction of. a new building. In the past, Nasee's main competitor, Nana construction Co. has submitted bids 70% of the time. if NANA bids on a project, the probability that NASEE will get the project is 20%. However, if NANA does not bid on a project, NASEE's probability of getting the project increases to 80%. if NASEE gets the project, what is the probability that NANA did not...

You are the manager of a firm that competes against four other firms by bidding for...

You are the manager of a firm that competes against four other firms by bidding for government contracts. While you believe your product is better than the competition, the government purchasing agent views the products as identical and purchases from the firm offering the best price. Total government demand is Q = 700 -4P and all five firms produce at a constant marginal cost of $40. For security reasons, the government has imposed restrictions that permit a maximum of five...

Assume you are a partner in a successful computer consulting firm bidding for a contract with...

Assume you are a partner in a successful computer consulting firm bidding for a contract with a large insurance company. Your chief rival is a firm that has usually offered services and prices similar to yours. However, from a new employee who used to work for that firm, you learn that it is unveiling a new competitive price structure and accelerated delivery dates, which will undercut the terms you had been prepared to offer the insurance company. Assume you have...

(A). Kofi Agyekum is bidding for a project needed by the USA government. Kofi Agyekum will...

(A). Kofi Agyekum is bidding for a project needed by the USA government. Kofi Agyekum will not know if the bid is accepted until three months from now. Kofi Agyekum will need cedi to cover expenses but will be paid by the USA government in dollars if he hired labour for the project. The contract price is US$ 35,000.00. The current spot rate of the cedi to the dollar is GH¢2.00=US$0. 50, while the forward rate is GH¢2.50 = US$0.99....

Question 4 A. Show that a dominant bidding strategy in an English auction is to continue...

Question 4 A. Show that a dominant bidding strategy in an English auction is to continue bidding as long as the price in the auction is less than your true value of the good. B. Suppose that there are six bidders in an English auction for an antique 1950s Vaporizer. Each has his or her own private value for the vintage machine. In ascending order, these values are $50, $60, $70, $80, $90, and $100. a. What will be the...

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