To calculate for the approximate market potential, we
simply have to take the ratio of the current market demand over the market
development index in fraction. That is:
market potential = 320 million / 0.55
<span>market potential = 582 million</span>
Answer:
The total cost of quality is $ 313200
Explanation:
First we need to distinguish the costs and allocate them to the correct category for the cost of quality report.
We have verifying credit card information of $52200
Customer service training of $104400
Discounting room rates due to poor service $ 156600
The 4 categories of cost of quality report are Prevention Costs, Appraisal Costs, Internal Failure costs and external failure costs.
Conforming Costs
Customer service training - prevention costs. - $104400 1,53% of total sales
Verifying credit card information - appraisal cost - $52200 0,76% of total
Non-conforming costs
Internal Failure
External Failure costs
Discounting room rates due to poor service $ 156600 2,3% of total sales
Total cost of quality $ 313200 4,6% of total sales
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<span>B. FALSE yes
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</span>
Answer:
Explanation:
a) since MR=MC, then 15-2Q=3+Q. So, the monopolist produce Q=4
price P=15-Q=10-4=6
profit=6*3-TC=18-(3+4+0.5*4^2)=3
b)since the P=6=6, domestic production will stay the same. The domestic consumption will stay the same. For Wilknam, it will import soccer balls.
c)yes, it holds that Wiknam will be an importer. Because the price for domestic production is 6 which is same as the world price 6.
d)Since the price within country is the same with price out of country, and also, MC=3+Q=7>6, Wiknam will import soccer balls. The monopolist market will become a competitive market.Even though the price won't change,the product will be of high quality and so on. The market will become more equilibrium.
