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3 years ago

Choose the correct statement.

Business

1 answer:

grandymaker [24]3 years ago

4 0

Answer:

D) When price is lowered to sell one more unit, the lower price results in a revenue loss and the increased quantity sold results in a revenue gain.

When you offer a sales discount, you are losing revenue since marginal revenue is lower than price, but at the same time if the marginal revenue is ≥ to marginal cost, then your profit and total revenue is increasing.

Explanation:

the other statements are false because:

A. Marginal revenue equals total revenue divided by quantity sold. FALSE, MARGINAL REVENUE IS THE REVENUE GENERATED BY SELLING ONE ADDITIONAL UNIT.
B. For a monopoly, marginal revenue equals price. FALSE, FOR A MONOPOLY MARGINAL REVENUE IS LOWER THAN PRICE.
C. For a monopoly, total revenue equals marginal revenue multiplied by the quantity sold. FALSE, TOTAL REVENUE = PRICE X QUANTITY SOLD

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When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids the added costs of developing and creating additional categories of the product. This is an example of one product and multiple market segments.

<h3>What is one product and multiple market segment situations?</h3>

This is a situation where a business targets more than one market at a time using one product.

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4 years ago

The manager of the main laboratory facility at Elmhurst HealthElmhurst Health Center is interested in being able to predict the

raketka [301]

Answer:

1. Lab's cost= 3187.94 +6.84 number of lab test performed

2. 0.77126

3. $24391.94

Explanation:

The Lab's cost depends on the number of lab test performed. So, Lab's cost is a dependent variable while number of lab test is an independent variable. The linear regression equation is written as

Y= a+bx

Where,

y= dependent variable

x= independent variable

a= intercept

b= slope

So, the equation can be written as

Lab's cost= a+b number of lab test performed

From the Excel output we know that

Intercept = a= 3187.94

Slope= b =6.84

So, the required regression equation is

Lab's cost= 3187.94 +6.84 number of lab test performed

The Excel output shows that R-square is 0.77126. R²=0.77126 means that only 77.13% of variation in Lab's cost is explained by its linear relationship with number of lab test performed.

We have to predict the lab's cost for 3100 test.

We know that

Lab's cost= 3187.94 +6.84 number of lab test performed.

Here, number of lab test performed=3100.

So,

Lab's cost= 3187.94 +6.84(3100)

Lab's cost= 3187.94 +21204

Lab's cost=$24391.94

Thus, the predicted total laboratory overhead for the month if 3,100 tests are performed is $24391.94.

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4 years ago

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Answer:

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we simply applied the above formula so that the correct value could come

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