All categories

2 years ago

When there is a technological advance in the ice cream industry, consumer surplus in that market will?

Business

1 answer:

Nina [5.8K]2 years ago

6 0

When there is a technological advance in the ice cream industry, consumer surplus in that market will increase.

Technology is the result of accumulated knowledge and the application of skills, methods, and processes used in industrial production and scientific research. Technology is embedded in the operation of all mechanical and electronic devices, with or without detailed knowledge of their function, for the intended purpose of an organization. The technology of society consists of so-called systems. A system works by taking input, modifying that input through what is called a process, and producing a result that achieves the intended purpose of the system.

The earliest and simplest form of technology is the development of knowledge leading to the application of basic tools. The prehistoric invention of carved stone tools and the discovery of ways to control fire increased the food sources available to humans. This led to mobile technologies that helped exchange information and raw materials more quickly. Humanity then proceeded to develop the printing press, telephones, computers, and the Internet.

Learn more about technology here: brainly.com/question/25110079

#SPJ4

You might be interested in

many credit card companies will let you determine your interest rate when they approve for your card true or false

SashulF [63]

The answer to this is false because all they want is for you to use their card and then it will hurt you credit score because then you will have to pay interest rates.

So it is false

6 0

3 years ago

Read 2 more answers

Which of the following statements is true of content marketing?

Aloiza [94]

Answer:

Explanation:

In today's marketing the use of material such as video, sound, webinars among others is essential, especially with the rise of the internet and advertising channels such as webpages and blogs.

8 0

3 years ago

Weekly demand for tennis balls at The Racquet Club is normally distributed , with a mean of 35 cases and a standard deviation of

RideAnS [48]

Answer:

a-The average weekly profit is $1767.31

b- The probability of having a weekly profit of more than 2000 is 0.1587 or 15.87%.

Explanation:

The weekly average profit for the simulation is given where first the values are simulated using R which is given as below:

x<-round(rnorm(n,m,s))

Here

round converts all the values of the simlation to integer.
rnorm is the command for simulation
n is the number of values which is 52 in this case
m is the mean of the values which is 35
s is the value of standard deviation which is 5 cases.

The values of x are as follows

[1] 36 49 30 29 34 36 32 28 32 29 32 27 40 32 30 37 43 30 42 30 31 34 36 38 28 29 32 42 36 35

[31] 37 41 34 39 37 46 34 44 45 41 41 29 36 38 35 32 36 39 30 38 40 27

Now using these values, the average of the simulation values is cacluated as follows:

mean(x)

35.3462

Now using this with the value of profit of $50 gives:

Average Profit=$50 x 35.3462

Average Profit=$1767.31

The average weekly profit is $1767.31

First number of cases are required so that the value will be greater than 2000 it is given as

Number of cases=2000/50=40

So firstly the Z-score is calculated which is as below:

$Z=\dfrac{x-\mu}{\sigma}\\Z=\dfrac{40-35}{5}\\Z=1$

Now the probability is given as

$P(X\geq 40)=P(Z\geq 1)\\P(X\geq 40)=1-P(Z< 1)$

The value of P(Z<1) is calculated from the table which is given as

0.84134

So the equation becomes

$P(X\geq 40)=1-P(Z< 1)\\P(X\geq 40)=1-0.8413\\P(X\geq 40)=0.1587$

So the probability of having a weekly profit of more than 2000 is 0.1587 or 15.87%.

4 0

3 years ago

RAC Associates is a car rental company that rents cars to tourists in the United States. The company uses tracking devices and m

Dafna11 [192]

Answer:

The correct answer is Supporting business processes.

Explanation:

A business process or business method is a collection of related and structured activities or tasks that in a specific sequence produces a service or product (meets a particular business objective) for a specific customer or customers. It can often be visualized (modeled) as a flow chart of a sequence of activities with decision points to intersalir or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include greater customer satisfaction and greater agility to react to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos.

8 0

3 years ago

The human resource department at Paula's Powerwheels is implementing a number of functional level strategies. These strategies i

katen-ka-za [31]

Answer:

The correct answer is Cost leadership.

Explanation:

Cost leadership are those strategies with which products similar to those of other companies are offered at a lower cost, that is, a certain company is considered to be the lowest cost producer in its industrial sector in order to achieve a differentiation.

At lower prices than its rivals, the leader's position translates into higher returns, however, standard products should not be sold ignoring the basis of product differentiation itself, since, if the customer does not perceive the product as comparable, The company must set very low prices in relation to the competition to achieve sales.

The sources to obtain this type of advantages are varied and depend on the structure of the industrial sector itself, including economies of scale, the use of proprietary technology, preferential access to the raw material, among others.

The cost leadership strategy aims to make a company the leader, rather than several companies struggling to reach that position, as this implies tough rivalry and competition that can have unfavorable consequences for all.

8 0

4 years ago