Economic profit is calculated as:
Economic profit = Total Revenues – Total Cost
Total cost both includes explicit and implicit cost. In
this case, the explicit cost is $8,000 while the implicit cost is $64,000.
Explicit cost is a direct payment made to run the business while implicit cost
is the opportunity as accountant that is lost. Therefore,
Economic profit = $150,000 – ($8,000 + $64,000)
<span>Economic profit = $78,000</span>
Product life cycle is important for a business to focus on the introduction stage then the growth stage because the products to gain distribution as the product is initially new in the market. The quality of product is not assured and the price of the product will also determine as low or high.
Explanation:
- The cost is going to be on a higher side.
- The sales will be slow since there is no awareness of the product.
- There might be little or no competition in the market.
- You make very little money of the product sold.
- Customer are to prompted to take initiate into the product.
- Demand has to be created.
- Marketing cost at the highest level because of recognition.
- Profit is received from product is very minimal.
- First impression is the last impression that impression is created
- In the introduction of the product.
Answer:
D. It cost you $85 to gas up your car this month. But last month it only cost you $50.
Explanation:
<u>Globalization</u> is the term used to describe the ongoing exchange of ideas, money, goods, services, artworks, and languages among nations and across cultures. It is used to describe how theatre productions can be created across international boundaries.
So if the corporation is there to provide services and infrastructure to aid the making of a program, then it's a production services agency, like XYZ manufacturing organization. An employer that offers creative offerings and paths for a couple of applications and clients, is QRSTUV productions.
Production is the process of making or manufacturing items and merchandise from raw materials or components. In other phrases, manufacturing takes inputs and uses them to create an output that is in shape for intake – a good or product that has a price to a quit-person or purchaser.
Manufacturing is the method of creating, harvesting, or creating something or the quantity of something that became made or harvested. An instance of production is the introduction of furniture. An instance of production is harvesting corn to eat. An example of manufacturing is the amount of corn produced.
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If this is true or false, then its true.
