First, is that I will never forget about my passion for the line of work that I am in. Passion means pursuing your dream despite setbacks.
Second, is that I will make sure that I will be open to new ideas and perspectives. I have to keep my mind open, especially to change. There are many things that I do not know, and if I want to be successful, I will not pretend that I know everything. Being open-minded will help my business thrive.
Third, I will always strive to learn about my line of work. This coincides with my second quality.
Fourth, I will make sure that I am always two steps ahead of my game. While having direction is great, it is best to keep my feet up and know what to expect. This will ensure that I will encounter as little problem as possible.
Lastly, I will never stop innovating. Innovating does not just mean that I should have great ideas; innovating means making my great ideas even greater! By learning how to do so, it will make sure that my business will not get left behind.
Answer:
Minimum insurance requirements are $25,000 for injury/death of one person, $50,000 for injury/death of two or more people, and $25,000 for property damage in an accident.
Answer:
The CEO concluded that the youth market segment was not being served and for that reason he decided to fill that niche in the business by creating a business plan that took it into account.
Explanation:
A market niche is a marketing term used to refer to a portion of a market segment in which individuals possess homogeneous characteristics and needs, and the latter are not entirely covered by the general market offer.
The market niche is based on recognizing in the segmentation a new business opportunity arising from unsatisfied needs and then being economically exploited by a company, but it may also be because there are not enough companies to supply that need. As for a niche market we must understand certain basic things to be able to have a fruitful activity, one of those is that this must be broad enough to derive a business from it and another aspect to consider is that we must know if there is something competition, the latter is not necessarily something negative since we will know that there is already a public and therefore a demand.
Answer:
C. Increase by $7,000
Explanation:
Current net operating income
($80 x 200) - $5,000
$16,000-$5,000
= $11,000
With the change the net operating income will be:
($80 - $20) x 200 x 150%
($60)×200×1.5
($60)×300
= $18,000
$18,000-$11,000
=$7,000 Increase
Therefore If the change is implemented, net operating income will: be an increase of $7,000 per month because the current net operating income was $11,000 and with the change the net operating income was increased to $18,000 which is why the income will increase by $7,000.
Answer:
The monopolist's profit maximizing level of output and corresponding profit-maximizing price is found by equating its marginal revenue with its marginal cost, which is the same profit maximizing condition that a perfectly competitive firm utilizes in determining its equilibrium level of output. Therefore, as the price falls, the market's demand for output increases.
