Reality test of a business plan involves proving that a market for the product or service really does exist and that the company can produce the product or provide the service at a reasonable cost.
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An entrepreneur must be successful in the business he starts as he takes ;lot of risks with that. It is very essential for an entrepreneur to create a business plan before taking any forward steps in the business. Performing the reality check will help an entrepreneur to ensure that he is in the right track of the business.
In the reality check, an entrepreneur gets to know about the viability of the market, his own strength and weakness and the financial position for the production of the products. It helps an entrepreneur to know about the demands that exists for his product and how can he produce those products or services as reasonable cost.
Answer:
Average total cost= $46
Marginal revenue= $33
Explanation:
In this instance the monopolist's total cost is the revenue from sale of one unit less the economic profits per unit
Economic profit per unit= 2,700/900
Economic profit per unit= $3
Average total cost= (Price per unit) - (Economic profit per unit)
Average total cost= 49 - 3= $46
For this instance marginal revenue is equal to marginal cost.
Marginal revenue= Marginal cost= $39
Answer:
Dentist is an occupation related to dental/tooth disease.
Explanation:
It is an occupation related to dentistry which is in the field of health.
The correct answer is : B. Microcredit Loans
Microcredit loans are usually a very small loans to impoverished who usually does not have enough collateral or steady source of income/ Since the west and central Africans live way below poverty border, Microcredits is one of the best way to improve their economy.
Answer:
False.
Explanation:
Culture trait is the simplest level of culture. It is an individual tool, act, or belief that is related to a particular situation or need. Using spoons and forks when eating is a culture trait. Another trait is the specific greeting used when meeting people. If you meet a pal, you probably say, “Hello”. On the other hand, when greeting the company's manager you would probably be quite formal. The greeting you use is related to the particular situation or need.
So, Individual culture traits combine to form the next level – culture complexes.
And culture complexes combine to form larger levels called culture patterns. These patterns form important components of a society’s culture.
