Answer:
A) rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
One of economics basic premises is that human beings are rational and act on self interest. That describes both the behavior of consumers who will always try to maximize their benefits at the lowest possible cost, and entrepreneurs like Alex who will try to increase their wealth by identifying and satisfying other people's needs and wants.
Answer:
the break even price is $0.35
Explanation:
The computation of the break even price is shown below"
= (Variable cost + fixed cost) ÷ (Number of units sold)
= ($500 ÷ 2,000 ×10,000 + $1,000) ÷ (10,000 units)
= ($2,500 + $1,000) ÷ (10,000 units)
= $0.35
hence, the break even price is $0.35
We simply applied the above formula so that the correct value could come
And, the same is to be considered
368,006.40 I am done with my test
Answer:
CPI for 2016 = 100
CPI for 2017 = 110
Inflation rate in 2017 = 10%
Explanation:
Before finding Consumer Price Index (CPI), we have to calculate the market basket cost price for each year
2016 market basket cost price =
Cauliflower = $250
Broccoli = $100
<u>Carrots = $250</u>
Total cost = $600
2017 market basket cost price =
Cauliflower = $210
Broccoli = $180
<u>Carrots = $270</u>
Total cost = $660
We know, CPI = (Cost of market basket in a given year ÷ Cost of market basket in a base year) × 100
As 2016 is the base year, CPI for 2016 = ($600 ÷ $600) × 100 = 100
CPI for 2017 = ($660 ÷ $600) × 100 = 100 = 110
Again, we know, Inflation rate using the CPI = [(CPI for current year - CPI for previous year) ÷ CPI for previous year] × 100
Therefore, Inflation rate using the CPI = [(110 - 100) ÷ 100] × 100 = 10%.
Answer:
manufacturing, correct pricing, marketing, sales and asking past customers for referrals.
Explanation:
Revenues are cash inflows that a business generates during its operations. main activities that make this possible starts from Manufacturing which involves converting raw materials to finished goods. Next activity is correct pricing which will determine if customers will be willing to buy your products or services , Marketing will ensure the existence, use and location of the product is known to the target market. Sales involves customers committing and buying the product. You can also ask customers for new referrals which when turned to successful leads, will generate more revenues.