Answer:
B) To maximize profit, firms should produce at a level of output where price equals average variable cost
Explanation:
Firms maximize their profit by equating Marginal revenue with The Marginal cost. So, since for perfectly competitive firms, the price equals the Marginal revenue, for these firms profit is maximized by equating Price with Marginal cost not the average variable cost.
Answer:
The lead time is the delay applicable for inventory control purposes. This delay is typically the sum of the supply delay, that is, the time it takes a supplier to deliver the goods once an order is placed, and the reordering delay, which is the time until an ordering opportunity arises again
Explanation:
Answer:
b. No country has an absolute advantage in all activities
Explanation:
- The data form the graph suggest that the statement that explains these countries like Germany, France, and Italy, will be formed each other is unknown.
- As the absolute advantage is when the counties have a complete advantage in the production of that one resource that they hold absolute advantages in.
- Thus no country has a complete advantage all share and has some advantages.
Answer:
many people think of marketing and advertising as synonymous.
Explanation:
Advertisement or advertising refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers.
On the other hand, marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
Hence, because advertising is the most visible form of marketing to everybody, many people think of marketing and advertising as being synonymous or the same.
Answer:
c. value
Explanation:
The individual character depends on his/her beliefs and values. It can be in terms of honesty, unbiased, unethical, efficiency, commitment, faithfully, openness, flexibility, etc
The people judge the person's character based on these attributes which is to be important in this changing environment i.e corporate world.
In the given situation, the marketing manager talks about the values.
