Wal-Mart, direct competitors would be places like Target, K-Mart, and Kohls.
Explanation:
<u>Penetration Pricing:
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It is the marketing approach that consists of a strategy to insert a new product in the market offering lower prices.
This strategy would help a new company, for example, to enter the market and already achieve good demand for its products and services, in addition to this strategy being a barrier of entry for new competitors.
Penetration pricing is the most appropriate marketing strategy for companies that need to reach a market place and reach a large number of people, which is achieved when offering a product with quality and benefits that can create consumer needs for customers, which makes it possible for the company to fulfill its objective and then be able to establish itself in the market and then increase prices so that the demand for the products is maintained.
This strategy is generally used by retailers and organizations that offer products offered in bulk, such as food, cosmetics, automobiles, etc.
Answer:
Statement 1: Explicit cost
Statement 2: Implicit cost
Statement 3: Implicit cost
Statement 4: Explicit cost
Accounting profit = Sales revenue - Explicit cost
= 722,000 - (422,000 + 268,000)
= $32,000
Economic profit = Sales revenue - (Explicit cost + Implicit cost)
= 722,000 - (422,000 + 268,000 + 2,000 + 21,000)
= $9,000
Answer: B). You must use the FAFSA to apply for the federal work-study program.
Explanation: FAFSA or the Free Application for Federal Student Aid is a process through which the students can apply for the federal work-study program. Universities and colleges use the information in the FAFSA application to determine the students eligibility for grants, scholarships, work-study awards.
Thus, B). You must use the FAFSA to apply for the federal work-study program is the correct option.
