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1 year ago

Any action, other than lowering its price, that a firm undertakes to increase the demand for its output is called?

1 answer:

5 0

Any action that a firm takes to increase the demand for its product or output other than lowering its prices is called non-price competition.

A firm usually makes a non-price competition strategy that distinguishes its output from its competing output on the basis of attributes like workmanship and design etc.

The non-price competition strategy involves advertising, product differentiation, promotion, and supply distribution. This non-price competition strategy allows a firm to distinguish its product and increase its demand against its competing product without lowering the price.

Despite the benefits of a non-price competition strategy, it requires a lot of research to make distinguish the product from its competing product. Usually, buyers are not aware of the quality of the product and they don’t know which firms provide greater quality products. It requires a lot of advertising and promotion etc.

You can learn more about non-price competition at

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Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May:

ira [324]

Answer:

Can you simplify your question. We ask of you to simplify the question so its easier to com up with a answer

Explanation:

SIMPLIFY THE QUESTION

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3 years ago

When preparing a merchandise purchases budget, the required purchases in units equals: Select one: a. budgeted unit sales + begi

miskamm [114]

Answer:

b. Budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.

Explanation:

Since, the total purchases in units means the number of units that the company needs to buy after maintaining the necessary closing inventory to meet the budgeted sales. The total units required should therefore be equal to the total of the budgeted sales units and the units for the closing of inventory.

Also, if the opening inventory exists out of the total units required, then that number of merchandise does not need to be purchased as it already exists.

Therefore to reach the required purchase unit we need to add budgeted unit sales and desired merchandise ending inventory and deduct the beginning merchandise inventory.

So, the correct option is b.

8 0

3 years ago

a company purchased supplies for cash, which will be consumed during future months. which of the following correctly describes t

harina [27]

The answer choice that correctly describes the impact of the supplies purchase on the financial statements is A. total assets will remain unchanged.

<h3>What is an Asset? </h3>

This refers to financial property owned by a company or individual that has some degree of value.

Hence, we can see that given the fact that a company purchased supplies for cash that would be used in a few months, this would leave the total assets unchanged.

Read more about assets here:

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4 0

1 year ago

Given the following, calculate total manufacturing costs: Direct materials: $40,000; Direct labor: $100,000; Manufacturing overh

vfiekz [6]

Answer:

cost of goods manufactured= $278,000

Explanation:

Giving the following information:

Direct materials: $40,000

Direct labor: $100,000

Manufacturing overhead applied: $120,000

Beginning Work in process inventory: $30,000

Ending Work in process inventory: $12,000

<u>To calculate the total manufacturing costs, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000

cost of goods manufactured= $278,000

4 0

3 years ago

Suppose that the supply function for honey is p=S(q)=0.4q+2.8, where p is the price in dollars for an 8-oz container and q is

Ivanshal [37]

Answer:

The demand function is p= (-2.1)*q + 15.3

Explanation:

The supply function for honey is p=S(q)=0.4*q+2.8, where p is the price in dollars for an 8-oz container and q is the quantity in barrels. The equilibrium price is $4.80. So, the equilibrium quantity is:

4.80=0.4*q+2.8

Solving:

4.80 - 2.8=0.4*q

2=0.4*q

2÷0.4= q

5=q

The demand function, assuming it is linear, is p=m*q+b

The equilibrium quantity is 5 barrels and the equilibrium price is $4.80; and the demand is 4 barrels when the price is $6.90. So:

$\left \{ {{4.80=m*5+b} \atop {6.90=m*4+b}} \right.$

Isolating the variable "b" from the first equation, you get:

4.80 - m*5= b

Replacing the previous expression in the second equation you get:

6.90=m*4 + 4.80 - m*5

6.90 - 4.80=m*4 - m*5

2.1= (-1)*m

2.1÷(-1)= m

-2.1=m

Replacing the value of "m" in the expression 4.80 - m*5= b you get:

4.80 - (-2.1)*5= b

Solving you get:

15.3= b

So, <u><em>the demand function is p= (-2.1)*q + 15.3</em></u>

3 0

3 years ago