Answer:
A firm's normal range of operating activities is relevant range of operations.
Explanation:
Relevant range of operations can be described simply as a firm or company's expected range of activities without any extreme economic conditions. It is the range where the firm operates in normal conditions. Within this range the firm's operations run smoothly. Outside this range revenue and expenditure may fluctuate from what was expected.
Answer:
I would use survey research to determine the general opinion, positive or negative, on the feature from the general public.
Explanation:
When conducting any survey research, it is important to sample a wide variety of people. In this case, you would want to survey the general population, not just former Mercedes customers.
I would design a focus group survey with a series of questions where participants can choose from a range, 0-5, on how much they agree with a certain statement.
At the beginning of the survey, participants would read a brief paragraph explaining the features on the new car before continuing to the part where they record their responses.
Once the survey is conducted, the data can be analyzed. If the majority, say 70%, of all people surveyed agree strongly that a self driving car is a good idea and that the world is ready then you can assume that the general population is in fact ready.
B. Work/life balance so he can spend time with his children
Answer:
One thing to clear ab initio is that equilibrium quantity and price are achieved when the demand and supply curves intersect at a point. Therefore, at equilibrium, the demand and supply in quantity are equal.
a) If a technological improvement reduces the cost of product, the equilibrium price will reduce and equilibrium quantity will be equal to the quantity demanded and supplied.
b) If there is a reduction in the number of sellers, the equilibrium price will increase and the equilibrium quantity will be equal to the quantity demanded and supplied.
c) If there is a tax levied on the sellers of apps, the equilibrium price will increase and the equilibrium quantity will be equal to the quantity demanded and supplied.
Explanation:
a) The market is in equilibrium when the supply and demand curves intersect, meaning that the quantity demanded and quantity supplied are equal. The price and quantity at which this intersection occurs are called the equilibrium price and equilibrium quantity respectively. In economics, when quantity supplied equals quantity demanded, an equilibrium situation is achieved, and it is represented by this equation: Qs = Qd; where Qs is quantity supplied and Qd is quantity demanded.
b) Equilibrium price reduces when there is a cost reduction and more supplies are pushed to the market to meet demand.
c) When suppliers leave the market, it means that the market price and demand are no longer attractive and beyond their individual influence. This leads to a reduction in quantity supplied overall.
d) Sales tax increases the price of goods and services, and equilibrium will be achieved when there consumers demand the product with increased price and sellers are willing to produce and sell at such a price.
Retail travel agents.
Tour wholesalers and operators.
Corporate travel managers and agencies.
Incentive travel planners.
Convention/meeting planners.
