Answer: The four types of economic utility are form, time, place and possession. "Utility" in this context refers to the value, or usefulness, that a purchaser receives in return for exchanging his money for a company's goods or services.
Answer:
Number of units it can sell and the number of customers it can serve
Explanation:
The ultimate market constraint (limit) on the amount of pricing power that can be exercised by a monopoly firm is the <u>number of units it can sell and the number of customers it can serve.</u>
<u>Generally</u>.
The price-setting ability of a monopolist faces two kinds of constraints:
1. Number of Units: The monopolist's price setting ability is limited by capacity as cannot sell more than a given quantity of its products
2. Number of Customers: The monopolist is additionally unable to serve more than a given number of consumers.
These 2 factors constrains the pricing power of the monopolist
The X-Ray machine can only be sold to the industrial market
Answer:
it's 0
Explanation:
hes returning to college and making zero money
Answer:
The inventory turnover ratio is 3.58 times
Explanation:
Inventory turnover ratio an efficiency ratio that indicates how many times a company sells and replaces its stock of goods during a particular period
Inventory turnover ratio is calculated by using following formula:
Inventory turnover ratio = Cost of Goods Sold/Average Inventory
In there:
Average Inventory = (Beginning inventory + Ending inventory)/2
In the company:
Average Inventory = ($53,000 + $43,000)/2 = $48,000
Inventory turnover = $172,000/$48,000 = 3.58 times
