In economics, diminishing returns is the decrease in the marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, while the amounts of all other factors of production stay constant.
<span>The purpose of the snapple video is to help students understand how PRODUCT POSITIONING is an effect strategy implementation tool. Product positioning can have a major effect on marketing because if the product is not positioned in the right way, people might just glance over it and not take note of it.</span>
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Arianna is engaged in the category management of the store.
Category management is involved in the retailing and the purchasing concept by
which it ranges the products that are being purchased or the products that are
being sold into categories that are being broken down in discrete groups that
are in similar or products that are related.
Answer:
company gained a gross profit of $2 million
Explanation:
Data provided in the question;
Contract price to build an office = $32 million
Construction costs incurred during the first year = $9 million
Estimated costs to complete at the end of the year = $21 million
Therefore,
Total cost incurred to complete the construction of the office at the end of the first year
= Construction costs incurred during the first year + Estimated costs to complete at the end of the year
= $9 million + $21 million
= $30 million
Thus,
The revenue generated by the company = Contract price - cost incurred
= $32 million - $30 million
= $2 million
since the revenue is positive, hence the company gained a gross profit of $2 million
