Answer:
It is important to screen your business idea because with screening it it can give you a wide variety of what's wrong with your idea and what you can do to solve it
Answer:
Advertising cost tends to keep increasing compared to other endogenous sunk cost
Explanation:
Sunk cost are defined as cost that have been incurred and cannot be recovered by a business.
Prospective costs on the other hand are those ones a business anticipates it will incur in the future.
Sutton drew a distinction between advertising and other sunk cost because in a competitive market that companies find themselves advertising cost continues to increase to keep the brand visible compared to others.
Companies increasingly invest more in brand awareness.
Other endogenous sunk cost however tend to be relatively constant.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
C business owners always have a temptation to set goals that are to high when they first start
Answer:
7.78 minutes
Explanation:
Solving Mathematically this will be :
<em>Time for the 6th task = Time for 6 tasks - time for 5 tasks</em>
y = ax^b
where,
y is cumulative time required to produce x units
a is time required to produce first unit of the output
x is the number of units under consideration
b is the log of Learning Curve % divided by 2
therefore,
Time for 6 tasks = 11.23 minutes × 6 tasks
= 67.38 minutes
Time for 5 tasks = 11.92 minutes × 5 tasks
= 59,60 minutes
Time for the 6th task = 67.38 minutes - 59,60 minutes
= 7.78 minutes
<u>Conclusion :</u>
She need 7.78 minutes to complete the 6th task