Answer:
Market Size
Explanation:
Market Size the total market revenue of all market segments combined, not just the revenue of a particular segment.
It can also be said to be the total sales revenue that can be generated in a market by all competitors present therein.
However it is true that as noted in the scenario, in order to truly asses the revenue potential of a particular segment, you have to look at the size of that segment multiplied the average price that consumers in that segment are willing to pay vis-a-vis their customer expectations.
Answer:
The Pareto Optimal height for the seawall is 35.71 inch
Explanation:
According to the given data we have the following:
marginal benefit=$5 per person and there are 100 resident
s
Therefore, total marginal benefit=500
Pareto optimal height for the sea wall is at a point where the total marginal benefit of an inch of building equals to marginal cost
The cost of building a wall that is inches high is given by c(i)= 7i^2, therefore MC= MC=14i
Therefore in order to calculate the Pareto Optimal height for the seawall we would have to calculate the following formula:
optimal height i=total marginal benefit/MC
optimal height i=500/14
optimal height i=35.71 inch
The Pareto Optimal height for the seawall is 35.71 inch
Answer:
Farhan, a software programmer, is allocated a new project with a tight deadline. Due to differences in time zones between his location and that of the client, he has to work during nights thrice a week. In this scenario, Farhan is most likely to have a negative attitude toward his job due to Overtime
Explanation:
The number of hours that a person must work in order to have a balance between life and work should not be more than 40 hours a day. It is a workload that permits to have a good production level without putting in risk the welfare of the employee.
In this case Farhan is asked to work more than he is used to. Therefore, the overtime might interfere with other activities that Farhan has outside of his work. Therefore, a bad attitude might arise from Farhan.
It is always wise to compensate this extra effort that Farhan is putting into the accomplishment of this project with money or other type of perks that will motivate Farhan as he will perceive that his effort is being appreciated.
Answer:
2. marginal revenue.
Explanation:
Marginal cost is the extra expense incurred as a result of or producing or selling an additional unit. For a profit-maximizing firm, marginal cost is important as it indicates the point at which production should stop.
Marginal revenue is the income generated by the sale of an extra unit. If the marginal revenue is greater than the marginal cost, a firm will make profits if it produces and sells an extra unit.
A profit-maximizing firm should continue production until the marginal cost equal to marginal revenue. The cost associated with producing the last item should match the income from that item. Further production will result in a loss.