<span>New product strategy. This is a rather risky move to make but many small businesses do this when it fits in with their existing set up including distribution and sales. The key thing with this strategy is that he needs to know his market and needs to understand his current set up for creating, distributing, and the sales of his current products and how a new product will fit into this and is there a product that potentially fit better.</span>
Answer:
Up to $4 million
Explanation:
The $3 million spent in developing the product is the sunk cost which is irrelevant in the analysis of how much to spend on the project.
Since it is expected that the project would generate $4 million, up to $4 million is the amount the amount that should be spent on the completion of the project.
I hope my answer helps you
Answer:
The correct answer is "should continue producing 500 lbs of apples"
Explanation:
(In a perfect market)
When the price is = marginal cost. This means that if you increase your production, the benefits-profits will be the same as if you produce the same quantity.
When the Price > Marginal cost, means that consumers demand more for that good, so the producer has an incentive to increase the supply
When the Price < Marginal cost, means that production is higher than the consumer's demand. This is an incentive to decrease the supply.
For this case, the best option is to continue producing the same quantity of units, 500 lbs of apples.
Answer:
The correct answer would be, Tangibles.
Explanation:
Tangibles are the things that can be touched by hand. Anything that can be physically felt and touched are considered in the category of tangibles.
So in this question, the five service characteristics are Reliability, Responsiveness, Assurance, Empathy and Tangibles.
Now the hotel has been updating its rooms to meet the 21st century visitors' needs which were built in the 20th Century. The hotel management has spent millions in terms of improvements, renovation and adding new outdoor pool complex, which means that the company has spent and spends millions on the physical decoration and improvements of its hotel and its rooms. So these are the tangibles on which the company has spent a lot. These renovations focus on the Tangible Service Characteristic.
