At a price of $10, the marginal revenue of a monopolist is $6. if the marginal cost of production is $8, the monopolist should keep the price at same level in order to maximize profits.
For increasing the profits the monopolist should increase the marginal revenue to $8 so that the mr =mc.
Every firm follows the rule of profit maximization. In this rule marginal cost is equal to the marginal revenue and the MR intersects the MC curve the profit will be the maximum at this level.
The marginal cost of production and marginal revenue are the economic measures which are used to determine the amount of output and the price per unit of a product that will maximize profits.
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Inbound marketing is the process of coordinating and facilitating potential customers to find a particular company.
An outdoor brand called Appalachia can revitalize its Pinterest account and engage its customers on the platform by streamlining content creation:
- Inbound marketing emphasizes building enduring and dependable relationships with your customers and attracting newer customers in an organic way.
- Inbound marketing works according to three principles: attract, engage, and delight.
- The company and its social media team would not only involve themselves in revitalizing their Pinterest account by making it more appealing and attractive to potential customers.
- It should be equally invested in engaging with the customers through the process of content creation.
- This could mean presenting insights into ways in which the customer chooses to buy from the company and prioritizes the particular company over other options.
- Product promotions are one way in which, using multimedia channels coupled with regular posting on the platform, customers can be attracted and engaged with.
- Content creation tools like trends, hashtags, social media marketing, and streamlined posts can be utilized for this objective.
Therefore, inbound marketing can greatly benefit from a streamlined content creation process that attracts and engages a sustained customer base of a company.
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We can represent the number of potential outcomes by 3 to the power 8.
<h3>What is permutation and combination?</h3>
Permutation relates to the act of arranging all the members of a set into some sequence or order.
We can assume, for two choices, we have one decision. This can be represented as, since we have eight decisions,
Representation of the potential outcomes are:
= 3^1 + 3^1 + 3^1 + 3^1 + 3^1 + 3^1 + 3^1 + 3^1
= 3^8
= 6,561
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Answer:
Job 301 $ 11,000
Job 302 $ 16,500
Job 303 $ 22,000
Explanation:
To calculate the overhead rate <u>we divide the estimated overhead cost by the estimated cost driver:</u>
0.55 overhead rate
Job 301 $20,000 labor cost x 0.55 overhead rate
11,000
Job 302 $30,000 labor cost x 0.55 overhead rate
16,500
Job 303 $40,000 labor cost x 0.55 overhead rate
22,000
Answer:
sales ; average accounts receivables
Explanation:
Accounts receivable turnover refers to how a business firm manage its assets. Businesses, companies uses accounts receivables to know and quantify how perfectly goods bought on credit by their customers are being paid back. It also measures how business gives credit and collects back it's debt .It is calculated as net sales divided by average accounts receivables.
