Explanation:
Assuming my company produces body care products and decides to introduce a new product–a toothbrush, the development process would involve:
1. Idea Generation:
It smbegins with an idea or imagination of what the ideal toothbrush would be, what problem would it solve for consumers. The idea could be random or it could be as a result of an identified need.
2. Idea Evaluation:
Remember, it is one thing to have an idea but another to have an idea that would work. Therefore, quality time would be taken to separate workable ideas about the ideal toothbrush from bad ones. This idea evaluation process is a very useful stage in the product development process.
3. Concept Development and Testing:
Remember, testing the concept about the new toothbrush allows for an expanded idea. The prototype of the toothbrush would be tested with consumers to find out whether the idea is worth the effort. Their feedback would be noted to improve the product further.
4. Marketing strategy
5. Final Product development
Answer:
d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.
Explanation:
An oligopoly can be defined as a market formation where in a given sector of the economy there are only a small number of competing companies offering a product or service. Its structure is formed by imperfect competition (between monopoly and perfect competition).
The difference between monopoly and oligopoly is that the number of companies that the market has will set the price of products in an oligopoly market, whereas in the monopoly only one company dominates the market and therefore that company determines the price of the good, as it is a market without competition. Therefore, alternative D is the incorrect one.
Answer:
Stating True or False
P > MC, so producing more would mean that the marginal cost increases to match the market price. FALSE
P = AC, so producing more would mean that the average cost would exceed the price reducing profits. FALSE
P = MC, so producing more would mean that the marginal cost would exceed the price reducing profits. TRUE
MR < MC, so producing more would mean that the marginal cost increases to match the market price. FALSE
Explanation:
All profit-maximizing producers accept a market price (P) that is equal to the marginal cost (MC), i.e. (P = MC). At this point, the market price does not exceed the marginal costs (costs of factors of production). When = P > MC, it shows that the benefits of producing more goods exceed the production costs, to the benefit of the society. However, if P < MC, then the social costs of producing the goods exceed the social benefits, signalling that the economy should produce less.
Answer:
according to what i had read
Explanation:
What is the difference between liberal arts college and a university?
The main difference between liberal arts college majors and university majors is that liberal arts schools generally offer one expansive area of study, whereas at universities, the same major may be broken into two or more degree tracks. ... They can major in mathematics and still end up in an engineering career.
A liberal arts college or liberal arts institution of higher education is a college with an emphasis on undergraduate study in the liberal arts and sciences. ... Most liberal arts colleges outside the United States follow this model.College vs. University
A smaller institution that usually offers undergraduate degrees is considered a college. ... In contrast, an institution that offers both undergraduate and graduate degrees is considered a university. They offer undergraduate programs that will lead a student towards a master's degree or a doctorate
The answer to this question is the Enterprise Social Network. The Enterprise Social Network or ESN is where businesses / organization use social media to have connections with individuals and groups that have common business ideas, interest, and activities. Enterprise Social Network have the benefits of having a real time source content from the users, providing an access to all archieve documents, and it can streamline communications.
