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3 years ago

In the product development process, what takes place between concept testing and market testing?

1 answer:

5 0

<span>In the product development process, the stage of concept testing is followed by product development. The product must actually be in existence before market testing can be conducted. So, in this process, product development is in between concept testing and market testing.</span>

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Assume that a firm hires an additional employee. If the marginal product for that employee is greater than for the previous empl

Tom [10]

If the marginal product for that employee is greater than for the previous employee hired, it must be that there are gains from specialization

<h3>What is marginal product ?</h3>

The marginal product or marginal physical productivity of an input (factor of production) in economics, and particularly neoclassical economics, is the change in output that results from using one more unit of a specific input (for example, the change in output when a firm's labor is increased from five to six units), assuming that the quantities of other inputs are kept constant.
The marginal product is the mathematical derivative of the production function with respect to that input if the output and the input are infinitely divisible, in which case the marginal "units" are infinitesimal.
When more of one input, such as labor, is used while maintaining a constant level of the other input, such as capital, the marginal product initially rises according to the "rule" of declining marginal returns.

To learn more about marginal product with the given link

brainly.com/question/13623353

#SPJ4

8 0

1 year ago

It’s Friday night. You already have a ticket to a concert, which cost you $30. A friend invites you to go out for a game of pain

ololo11 [35]

Answer:

$30

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

Here, one has the option of either paintballing or attending a concert. If one goes paintballing , the opportunity to attend the concert is forgone. Thus, the opportunity cost is the cost of the concert tickets- $30.

I hope my answer helps you

7 0

3 years ago

Peter is playing hide and seek with his six year old nephew teddy peter decides to look around the house room by room and then s

VladimirAG [237]

The question is incomplete. But it is about the method which is an example of problem solving strategy that Peter is using to find Teddy.
The answer is peter is Peter is using the method which is called algorithm in problem solving strategy.
The complete question is;
Peter is playing hide and seek with his 6 yr old nephew, Teddy. Peter decides to look around the house room by room and then shuts the each door when he has finished looking in each room. The <span>method Peter is using to find Teddy is an example of which problem-solving strategy? </span>

7 0

3 years ago

On January 1, 2017, Flying High Airlines leased a new airplane for a term of 10 years The expected life of the airplane is 20 ye

Eva8 [605]

Answer:

a. The journal entry would be as follows:

Debit Credit

December 31, 2017 Lease Rent Expense $650,000

Cash $650,000

b. The Lease rent expense of $ 650,000 will be reported on the 2017 income statement as an operating expense for computation of net operating income.

c. The annual lease payment that results in a present value ofminimum lease payments equal to 90% of the fair market value of the airplane is $710,883

Regarding The cash outflow of $ 650,000 will be reported in the Operating Activities section of the Statement of Cash Flows for the year ended December 31, 2017.

Explanation:

In order to know what journal entries related to thelease arrangement should be recorded during 2017, first we need to calculate the Present Value Annuity as follows:

Present Value Annuity = [1-(1+r)^-n]/r

=[1-(1+.045)^-10]/0.045 = $7.9127

Hence, Present value of the minimum lease payments = $ 650,000 x 7.9127 = $ 5,143,255

a. The journal entry would be as follows:

Debit Credit

December 31, 2017 Lease Rent Expense $650,000

Cash $650,000

b. The Lease rent expense of $ 650,000 will be reported on the 2017 income statement as an operating expense for computation of net operating income.

Regarding The cash outflow of $ 650,000 will be reported in the Operating Activities section of the Statement of Cash Flows for the year ended December 31, 2017.

c. In order to calculate the annual lease payment that results in a present value ofminimum lease payments equal to 90% of the fair market value of the airplane we would have to use the following formula:

Annual lease payments that would result in present value of minimum lease payments of 90 % of the fair market value of the airplane = $ (6,250,000 x 90% ) / 7.9127 = $ 710,883

8 0

3 years ago

Shelton Co. purchased a parcel of land six years ago for $874,500. At that time, the firm invested $146,000 in grading the site

Oliga [24]

Answer:

$926,000

Explanation:

For computing the initial cost of the warehouse project, we consider the current value of the land i.e represent the opportunity cost and the land value which is purchased six years ago for $874,500 represent the sunk cost which is not recoverable now. So, this sunk cost is not relevant.

And, the lease cost is also not relevant as the lease period will be ended soon.

All other information which is given is not relevant. Hence, ignored it

3 0

3 years ago