Answer: Advertise on radio and earn $14,000
Explanation: Dominant strategy may be explained as the tactics or option which works best for a particular firm and seems to give the firm an edge abive other competitors.
Since both are following their dominant strategy, even though advertising on TV seems more lucrative if only one of the advertise, by the time both of them place TV advert, profit falls to $8000. therefore the strategy who gives the highest return when both thread the same advertising path is the radio advert, which gives a return profit of $14,000. Therfore, Uan Pablo should advertise on radio and earn a profit of $14000
Answer:
The correct answer is letter "A": Neither Italy or New Zealand.
Explanation:
Comparative advantage is the ability of an individual or organization to manufacture its products at a lower opportunity cost than its competitors. The scenario does not imply the individual has an absolute advantage. It actually means it sacrifices less to achieve that goal.
Thus, <em>Portugal has a lower opportunity cost than Italy in producing a bottle of wine. Portugal's opportunity cost is 1/2 while Italy's opportunity cost is 2. Neither Italy or New Zealand (or any other country not mentioned in the example) has a comparative advantage in producing wine</em>.
<span>Input is the object, the material, the information, land, equipment, money, knowledge we fed into a process.
Output is the created product (good or service) </span>that provide added value<span> to customers.</span><span> And the process that makes conversion from the input into the output is the o</span><span>perations management.
In our case the final product is operating a summer band camp. The input are materials, buildings (where the camp will be located), hiring staff, but also non-material things -advertising for example. The conversion is rebuilding, interviewing staff.. and the output is opened summer band camp, satisfied customers and hired staff . </span>
Answer:
Machine hours (X) Utility cost
High 2,680 8,100
Low <u> (740)</u> <u> (4,650)</u>
<u> 1,940 </u> <u> 3,450</u>
Variable cost per machine hour
= $3,450/1,940 hours
= $1.7784 per machine hour
Explanation:
Using high and low method, we will obtain the highest activity (machine hours) and the corresponding cost. We will also obtain the lowest activity and the corresponding cost. Thereafter, we will deduct the lowest points from the highest points. Finally, we will divide the difference in cost by the difference in machine hours in order to determine the estimated variable cost per machine hour.
Answer: The correct option is B. an increase in quantity supplied of laptops.
Explanation: Supply is the amount of goods and services that a given firm is willing and able to sell to the market, at a given price and at a given point in time.
Factors that affect supply include:
- Price
- Cost of Production
- Technology
- Transport Conditions
- Government's Policies
- Prices of Related Goods, and so on.
In the scenario given in the question above, if an improved technology is being used to manufacture laptops, this will cause production costs to decrease, and cause output level to increase, thereby leading to a lower price of the laptops.
At this price, consumers will demand more of the laptops, and an increase in demand will definitely lead to an increase in the quantity of laptops that will be supplied to the market.
