Answer:
<u>$35</u>
<u>Explanation</u>:
Note the formula:
Total revenue (TR)= Price (P) x Q and Marginal revenue (MR) = Change in TR / Change in Q
<u>Total Revenue for 2 units of output sold</u>
= 2 x $50 = $100
<u>Total Revenue for 3 units of output sold</u>
= 3 x $45 = $135
<u>The Marginal Revenue=</u>
Change in TR (135-100) / Change in quantity (3-2)
= $35/1
= <u>$35</u>
Therefore, the Marginal Revenue If the firm sells 3 units of output, will be $35.
Example when a person goes to a dentist he use the services of the dentist and returns with a relief. In the process he does not get any physical commodity but still he has consumed a service. Core goods providers provide a significant service component as part of their businesses.
The American Marketing Association defines services marketing as an organisational function and a set of processes for identifying or creating, communicating, and delivering value to customers and for managing customer relationship in a way that benefit the organisation and stake-holders.
Answer:
False
Explanation:
Although the first part of the statement correctly describes the law of supply as an inverse relationship between the price of good/service and the quantity suppliers would supply (given a particular price), the second part is false.
Height of the supply curve indicates a minimum price that would incentivize suppliers to start creating a particular good. The notion of customers and purchase is related to the demand curve, not supply.
<span>
In
order for companies to take responsibility for unintended effects,
governments put into place regulations. These regulations ensure that
companies do not take actions in the conduct of their core businesses that
create conflicting or possibly dangerous outcomes, such as exposing consumers
to potential risk.
</span>
Answer:
The correct answer is letter "D": support of middle managers.
Explanation:
The Human Resources (HR) department is in charge of the recruitment process in every organization. Though there might be some limits at the moment of selecting new personnel such as the resources of the company, if the job offered is attractive enough or not, and if the company has a good reputation that attracts qualified labor hand.
<em>Middle managers do not represent a major constraint at the moment of recruiting new employees. In most cases, they are the ones requesting for more workers in their departments.</em>
