Answer:
D. Any advantage that one firm has will be short-lived.
Explanation:
With the three firms all producing the same product with similar resources in their production and distribution of their products, any advantage that a firm has over the others if any would not last long at all. This is because each firm is using similar technique in the same location. Hence, there's nothing special about one of the firms over the others.
Answer and Explanation:
Demographic: the demographic aspect in looking at market segmentation variables in his coffee business would consider such things as age brackets, gender and different groups of population that would be interested in what his business aims to offer. Individuals who are in the older age brackets such as from 30-70 would be interested in coffee. Also these individuals are usually educated
Geographic:
This variable would consider where consumers are located geographically. Therefore are customers able to access the coffee shop easily I'm terms of proximity. How convenient is it to move to to the coffee shop from the customers location?
Psychographic:
what is customers attitudebor lifestyle ? Are customers thorough about the kind of coffee they want. Will customers accept to pay higher for higher quality coffee.
Behavioral: customers may consider the coffee shop a relaxation spot or a place to hangout with friends and family while enjoying a nice cup of coffee. What does this group do most and associate coffee with?
Answer:
E) -2.50 ; inferior
Explanation:
Before you earned $3,500 per month, you consumed 7 units per month. That means that you consumed 1 unit every $500 earned.
When your income increased to $4,000, you only consumed 5 units per month. That means that your consumption decreased to 1 unit for every $800.
The income elasticity of demand using the midpoint method is calculated by using the following formula:
income elasticity = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}
= {-2 / [(7 + 5) / 2]} / {500 / [(3,500 + 4,000) / 2]} = (-2 / 6) / (500 / 3,750) = -0.333 / 0.133 = -2.5
Since the income elasticity of demand is negative, the good X is an inferior good.
Answer:
Factory overhead= $22,900
Explanation:
Giving the following information:
Direct materials $15,200
Indirect materials 3,200
Indirect labor 7,700
Factory depreciation 12,000
Direct labor 36,200
<u>Factory overhead is all the indirect costs related to production. In this case:</u>
Factory overhead= indirect materials + indirect labor + factory depreciation
Factory overhead= 3,200 + 7,700 + 12,000
Factory overhead= $22,900
Answer:
(a) $200,100
(b) $200,100
Explanation:
The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.
This may be expressed mathematically as
opening balance + sales - cash collected - amount written off = closing balance
$35,100 + $361,800 - cash collected = $196,800
Cash collected = $35,100 + $361,800 - $196,800
= $200,100
