Answer:
The purpose of researching a market is to figure out how you can best attract those who are likely to buy your company's products or services.
Answer:
The correct answer is B
Explanation:
Economic profit is the difference among the revenue received from the sale of the output and the cost of all inputs used and opportunity cost.
Zero economic profit, it is the situation where the firm is earning the same if its resources were employed in the next alternative which is best.
When the entry barriers in the market are low, then the firm will have the tendency of having a zero economic profit in the period of long run, as the profit which is short run will attract the extra suppliers which will result in down in the market price of the product.
Answer: cannot be physically possessed (B)
Explanation:
A service is a transaction where there is no transfer of physical goods from the seller to the buyer. Services are the action performed by an individual or firm for another person and are intangible in nature.
The satisfaction derived from a service are seen by the buyers willingness to pay for the service rendered to him or her. Public services are the services that the society pays for. Examples of services are car repair, haircuts, mail delivery, medical check-ups, and teaching.
Answer:
Explanation:
To complete WIP
Conversion: 16,100 units × (100% – 20%) 12,880
Units started and completed (101,000-16,100) 84,900
Ending work in process:
Conversion: 13,100 units × 30% 3,930
Equivalent units of production 101,710
Cost added during the period $ 594,123
Equivalent units of production 101,710
Cost per equivalent unit $ 5.84
