sole proprietorships, partnerships, and corporations.
Answer:
It includes; Digging deeper into areas of knowledge/expertise and comparison of achievement can help foster,creat or lead to a competitive position/ advantage. Finding out, sourcing and making use of other areas or sources of knowledge and information can keep a company up to date of competitive efforts and leads to an environment for creativity, shows/ create new knowledge within the company thereby finally leading toexisting competitive advantages and going after new ones.Success is a product of failure so therefore, getting the knowledge of failure as part of the innovative process can bring good results.
Meeting goals with all flexibility and sharing of personal stories, sourcing outsiders, proving one’s self wrong will all foster a kind of fear-free searching of new ideas.
Explanation:
For firm generally, crafting, creating or bringing a strategy that gives/yields a competitive advantage over rivals is said to be the most reliable means of achieving above-average profitability and financial performance in any organization. A company can attain and have sustainable competitive advantage if and when the elements of the strategy used by the company give buyers lasting and good impression orreasons to prefer a company's products or services over those of their competitors.
Strategic approaches used by company to build a competitive advantage includes; Focusing on a narrow market environment (niche) within an industry and also creating an advantage based on offering more value for the money e.t.c.
GMC. Except GMC now also says "We are professional grade" as well
36000/12=3000
so 3000 a month he makes.
3000-405=2,595
405x12= 4860
The profit will Bluetooth speaker sales bring this firm when it sells at the profit-maximizing level of output is $975
Profit-maximizing level
In economics, profit maximizing level of output means where its marginal cost (MC) just equals the product price and where marginal cost is increasing; that is, the MC curve is sloping upward.
Given
A firm that produces Bluetooth speakers collected the following data to determine their possible profits.
Here we need to find the profit will Bluetooth speaker sales bring this firm when it sells at the profit-maximizing level of output.
In order to find the profit-maximizing level of output for the Bluetooth, we have to subtract the maximum price by the minimum price.
For example let us consider $1000 be the maximum price of the Bluetooth and $25 is minimum price of the Bluetooth,
Then the profit-maximizing level of output is calculated as,
=> 1000 - 25
=> 975.
To know more about profit-maximizing level here.
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