Answer:
Q = 10 - 0.1p
Explanation:
Given that,
Demand equation for good 'x':
Q = 9 - 0.1p - p_y + 0.01p_z + 0.0005Y
Where,
p = own price of the good
Q = quantity demanded
p_y = price of a related good = $3
p_z = price of a different related good = $200
Y = consumer income = $4,000/month
Therefore, the quantity demanded as a function of the price can be written as follows;
Q = 9 - 0.1p - p_y + 0.01p_z + 0.0005Y
Q = 9 - 0.1p - 3 + 0.01(200) + 0.0005(4,000)
Q = 6 - 0.1p + 2 + 2
Q = 10 - 0.1p
Answer:
The correct answer is option D.
Explanation:
Competitive advantage refers to the situation when a firm can provide better value to their customers or provide the same product at a lower cost. In other words, the company is able to outperform its competitors.
Economies of scale can arise because of several factors such as
- Economies of scale
- Geographical location
- Internal systems
Competitive advantage gives a firm the ability to produce more efficiently than its rival and thus the firm has greater profit than its rival.
Answer:
The correct answer is letter "B": It is the perception of marketplace needs and the ways the organization can satisfy them.
Explanation:
The vision of a company reflects the objectives of the firm related to its surrounding environment. In other words, a company's vision comprises its operative goals in regards to the transactions necessary to satisfy its consumers' needs and wants. It is suggested that a company's vision would be a segment no longer than 150 words.
Answer:
Cowboy Law Firm
Income Statement
Service revenue $7,600
<u>Expenses:</u>
Salaries expense $1,350
Utilities expense $1,000
Total expenses <u>$2,350</u>
Net income <u>$5,250</u>
Answer:
Inventory at the end of march 2008 = 150 units
Explanation:
<em>The closing inventory at the end of a particular period will be opening inventory at the beginning of the following period.</em>
<em>Note that the inventory at the end of March 2008 will be the opening inventory at the beginning of April 2008.</em>
<em>The production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories. </em>
Production = Sales volume + closing inventory - opening inventory
100 = 50 + 200 - X
X = 50 + 200 -100
X = 150 units
Inventory at the end of march 2008 = 150 units