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3 years ago

A _____________ is created by a consumer problem, need, or desire.

2 answers:

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A business opportunity is created by a consumer problem, need, or desire. Whenever there is one of this situations, there are new opportunities and tools that help you to start a new business. However the goal is that to be done at a lower cost and with fewer restrictions than a franchise, which involves sale or lease of any product, service or equipment.

sp2606 [1]3 years ago

4 0

An opportunity is created by a consumer problem, need, or desire. If a certain company or individual sees all those problems of the consumer or their needs and desire, the company sees it as an opportunity to develop or produce a product that will answer this problems.

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The equality of marginal revenue and marginal cost is essential for profit maximization in all market structures because when th

erma4kov [3.2K]

Answer:

The correct answer is option c.

Explanation:

A firm is able to maximize its profit when the marginal revenue earned is equal to the marginal cost incurred. This is true for all market structures whether competitive or imperfect competition.

When the output is produced at the point where marginal revenue and marginal cost are equal, it implies that the last unit produced is adding more to revenue than to costs. And the production of the last unit is increasing profits or reducing losses.

At this point, the marginal profit is zero when the marginal profit becomes negative it implies that the total profit is decreasing. so for profit maximization marginal profit should be zero or marginal revenue should be equal to marginal cost.

7 0

3 years ago

Brief Exercise 4-5 Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and insp

Anni [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The company identifies three activities in its manufacturing process: machine setups, machining, and inspections.

Machine setups:

Estimated annual overhead= $140,000

Cost driver= machine setups

Activity= 2,000 machine setups

Machining:

Estimated annual overhead= $240,000

Cost driver= machine hours

Activity= 24,000 machine hours

Insections:

Estimated annual overhead= $54,000

Cost driver= number of inspections

Activity= 1,200 inspections

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machine setup:

Estimated manufacturing overhead rate= 140,000/2,000= $70 per machine setup

Machining:

Estimated manufacturing overhead rate= 240,000/24,000= $10 per machine hour

Inspection:

Estimated manufacturing overhead rate= 54,000/1,200= $45 per inspection

3 0

4 years ago

Once expenses have been identified, they can be categorized as either fixed expenses or variable expenses.

AlexFokin [52]

Answer:

Once expenses have been identified, they can be categorized as either fixed expenses or variable expenses.

For example, your mortgage would be considered a __fixed__ expense, because _the total amount does not vary_. Conversely, grocery bills would be considered _variable_, because the actual amount is _varies_.

Explanation:

Fixed expenses are fixed in total within a relevant range. The amount remains the same from one period to the next. The element of the fixed expense that changes is the cost per unit and not the total amount. On the other hand, variable expenses vary in total because of their quantities vary but their costs per unit remain fixed.

5 0

3 years ago

f there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when Group of ans

solniwko [45]

Answer:

Explanation:

When there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when the MPP of the first factor divided by its price is equal to the MPP of the second factor divided by its price.

The least cost rule evaluated two factors of production. Let's say labor and capital. production at least cost has the requirements that labor’s marginal product divided by its price is equal to capital’s marginal product divided by its price.

6 0

4 years ago

Summary of accounting chapter 1

slamgirl [31]

Answer:

Chapter 1 introduces the study of accounting. Accounting is defined as a set of concepts and techniques that are used to measure and report financial information about an economic entity. Accounting consists of both external reporting issues known as “financial accounting,” and internal reporting issues related to “managerial accounting.”

Explanation:

5 0

3 years ago