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Salsk061 [2.6K]
3 years ago
14

Given that Gabbie is looking for a budget-priced flight home for the holidays, she will need to find out what various options ex

ist to fill her need. Gabbie visits the websites of airlines she's had personal experience with and asks her friends for their opinion. Gabbie is in which phase of the consumer decision process?
Business
1 answer:
PSYCHO15rus [73]3 years ago
4 0

Answer:

Gabbie is in the Information Search phase of the consumer decision process. This is the second phase.

Explanation:

The Consumer Decision Process is a situation in which a consumer passes through the phases listed below in order to make a final purchase decision.

1. The first phase where the consumer recognizes a need they have to fulfil.

2. The second phase in which Information search is carried out in order to determine how best to meet this need.

3. The third phase which Alternative Evaluation phase. Here, the consumer evaluates each medium that can fulfil their needs.

4. The fourth phase, which is the decision making phase. Here, the consumer makes their purchase decision based on the evaluation of alternatives in the previous phase.

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Fiori Corporation's relevant range of activity is 4,700 units to 11,500 units. When it produces and sells 8,100 units, its avera
Snezhnost [94]

Answer:

$12.6

Explanation:

Calculation for incremental manufacturing cost

The incremental manufacturing cost will be the addition of the following :

Direct materials $ 6.50

Direct labor $ 3.90

Variable manufacturing overhead $ 2.20

Incremental manufacturing cost $12.60

Therefore incremental manufacturing cost will be $12.60

8 0
3 years ago
marginal revenue for the perfectly competitive seller is blank price, whereas for the monopolist it is blank price
eimsori [14]

Marginal revenue for the perfectly competitive seller is constant and <u>equal to</u> the price, whereas for the monopolist it is not constant and reflects the necessity of <u>lowering </u>the price to sell the output.

A monopoly, as defined with the aid of Irving Fisher, is a market with the "absence of opposition", developing a situation in which a specific person or organization is the only supplier of a particular component. Natural gas, strength companies, and different application businesses are examples of natural monopolies. They exist as monopolies due to the fact the value to go into the enterprise is excessive and new entrants are unable to provide identical offerings at lower fees and in portions comparable to the present company.

A monopoly is when one organization and its product dominate an entire enterprise wherein there is little to no competition and customers need to purchase that particular excellent or service from one organization.

A monopolist is a man or woman, group, or agency that controls the market for a particular desire or provider. A monopolist likely also believes in regulations that prefer monopolies since it offers them extra power. A monopolist has little incentive to improve its product because clients have no options.

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4 0
1 year ago
Suppose there are two possible outcomes if a new policy is instituted to improve air quality. There is a 30% chance it will prod
BigorU [14]

Given:

Benefit from first policy = $20 million

Probability to get $20 million = 30%

Benefit from Second policy = $40 million

Probability to get $20 million = 70%

Find:

Expected value of the benefits:

Computation of expected value of the benefits:

Expected value of the benefits = Expected benefit from first policy + Expected benefit from Second policy

Expected value of the benefits = ($20 million × 30%) + ($40 million × 70%)

Expected value of the benefits = ($6 million) + ($28 million)

Expected value of the benefits = $34 million

Therefore, the expected value of the benefits from policies is $34 million.

8 0
3 years ago
The policy makers of Country LT have noticed a steady increase in grain prices over the last several years. The increase in pric
larisa [96]

If I were a policy maker in Country LT, I would create a regulatory policy that allowed the grain producer to make as much in profit as possible, but still protect consumer needs. The company would be required to create various smaller companies, each selling different types and quality of grain for varying prices. This would preserve the ideals of free enterprise, encourage competition within the market, and help to keep food costs down for consumers.

5 0
2 years ago
Read 2 more answers
Discuss which financial management practices are least effective in creating and monitoring an operating budget?
insens350 [35]

The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.

In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.

Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.

Hence, the operating budget helps in keeping track of the income and expenses in an organization.

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3 0
1 year ago
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