I’m working on a marketing question and need an explanation to help me learn. Q1. Explain the following three types of letter of credit: Irrevocable letter of credit, Confirmed letter of credit, and Revolving letter of credit. Q2. What are the reasons for international business carrying (1) Commercial risk and (2) Political risk. List and discuss the reasons under each RISK separately. Q3. Which of the following pricing approach would you recommend to a company: (1) absorption pricing, (2) pass through pricing, (3) pricing to market. Explain each approach and give your reason for recommending one LIST your postings by Question and for each question use bullet points format as much as possible.
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