Answer and Explanation:
A. Profit maximizing output level
P = MC
$90 = q^2 + 9
q = 9 units
B. At 9 units the profit maximizing price should be $90
C. Profit = TR - TC
= P x Q - TC
= $90 x 9 -( 1/3q^3 +9q + 1250)
= 810 - (1574)
Loss = 764
D. If the firm's price is greater than its average variable cost then the firm should continue in the short run because of positive contribution margin. However, if the P < AVC then it should stop its operations as it would have negative contribution margin.
Answer:
Experience.
Explanation:
Marketing mix can be defined as the choices about product attributes, pricing, distribution, and communication strategy that a company blends and offer its targeted markets so as to produce a desired response.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
A service organization can be defined as an assembly of people who are saddled with the responsibility of providing customer-oriented services rather than just making profit.
In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Thus, Disney is marketing an experience because they comprises of both a tangible and an intangible quality.
Answer:
2. Have both the buyer and seller sign required disclosures describing the designated sales agency relationship and stating that each the buyer and seller have assets of $1 million or more.