When a company buys a good or service from a third party rather than managing it itself, that practice is known as outsourcing. As a small business, outsourcing enables you to accomplish more by delegating crucial jobs and procedures to experts without having to significantly expand your full-time staff.
<h3>What is a good illustration of outsourcing?</h3>
- The best instances of outsourcing are in advertising, office and warehouse cleaning, and website creation. The majority of business owners assign control to outside professionals for tasks like bookkeeping, maintenance, and hiring. This makes it easier for businesses to concentrate their resources on their primary operation.
- Contracting out business operations and processes to outside vendors is known as outsourcing. The advantages of outsourcing can be significant, ranging from cost reductions and increased efficiency to a stronger competitive advantage.
- Companies frequently outsource in order to reduce costs, increase efficiencies, and accelerate processes. To achieve these advantages, businesses that choose to outsource rely on the third-party suppliers' experience carrying out the tasks they have chosen to contract out.
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If a monopolist's production process has economies of scale and average cost exceeds marginal cost, then the government should make the price equal to the marginal cost.
Monopolies are businesses that are dominated by few people in the industry. They have little competition from others and have high barriers to entry.
They can sometimes reduce production to increase the price of their goods and services.
The government can regulate the activities of monopolies by making their price equal to the marginal cost.
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Answer:
The answer is D.
Explanation:
Sinking funds require the issuer(borrower) to set aside assets at specified amounts to retire the bonds at maturity. Sinking fund helps the issuer to secure a bond with lower yield.
An agreed amount is deposited at an agreed period (e.g yearly) so as to pay of the par value or principal value at maturity.
Answer:
The correct answer is option A.
Explanation:
Marketing research refers to the set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision-makers involved in marketing goods, services, or ideas.
It involves a number of steps such as defining the objectives and research needs, designing the research, collection of data.
Marketing research is helpful in making decisions related to marketing goods, services and ideas.
Answer:
The firm should increase output and reduce price
Explanation:
For a monopolist, there can be one of the following three scenarios at a time point in time:
Scenario one, MR = MC: For a monopolist, profit is maximized at the point where marginal revenue (MR) is equal to to marginal cost (MC), i.e. where MR = MC.
Scenario two, MR < MC: But when the MR < MC, it indicates that the monopolist is currently producing a higher quantity of output and it is not maximizing profit. In order to maximize profit, the monopolist has to reduce output until MR = MC.
Scenario three , MR > MC: But when the MR > MC, it indicates that the monopolist is currently producing a lower quantity of output and it is not maximizing profit. In order to maximize profit, the monopolist has to increase output until MR = MC. Also, the monopolist has to reduce price in order to sell the increased quantity of output.
From the question, the monopolist falls into scenerio three as MR > MC, i.e. $45 > $35. Therefore, the monopolist should increase output until MR = MC and reduce price in order to maximize profit.
