Your company's immediate goal is to DELIGHT YOUR CUSTOMERS. Customer delight involves surprising one's customers by exceeding their expectations, thus making them to tell others about one's product. Businesses delight customers in order to increase their revenue and improve brand loyalty.
Answer:
1. Opportunity Cost of 2nd truck from 1st Truck = 1T : 3P
2. Opportunity Cost of 3rd truck from 2nd truck = 1T : 5P
Explanation:
Choice Hours Producing Produced
(Trucks) (Puzzles) (Trucks) (Puzzles)
A 8 0 4 0
B 6 2 3 11
C 4 4 2 16
D 2 6 1 19
E 0 8 0 20
Opportunity Cost is the cost of a good sacrifised to achieve additional unit of other good.
- From point D ( 1 truck) to point C ( 2nd truck ), opportunity cost in terms of puzzles sacrifised is 19 - 16 = 3. So, opportunity cost is 1T : 3P
- From point C ( 2 trucks ) to point D (3rd truck ), opportunity cost in terms of puzzles sacrifised is 16 - 11 = 5. So, opportunity cost is 1T : 5P
<span>A decision to position the product on high-performance quality will mean that the seller must charge a higher price to cover higher costs.
When a company uses higher quality products to market their product as high-performance quality it means that the product will cost more to make and will sell for a higher price. The company has to cover all of their costs and one way to do that is to make sure their price point is set correctly.
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<span>Lucinda could buy either 2 kewpie dolls and 1 beanie baby, or 1 beanie baby and 2 kewpie dolls at $6 a piece if she has $18. Rationally, Lucinda would want at least one of each toy. Whether she went with the first or second option the amount she would spend would be as follows: $6Ă—3 toys=$18.</span>
