Answer:
<u>A Star.</u>
Explanation:
The Boston Consulting Group (BCG) matrix depicts a product's market share against the market growth rate. The matrix is also known for it's cow- dog metaphor.
The matrix represents 4 situations namely:
1. Stars : Products with high market share in high growth markets i.e high- high situation.
2. Cash Cows: Products with high market share in low growth markets.
3. Question Mark: Products with low market share in a high growth markets.
4. Dogs: Products with low market share in low growth markets.
In the given case, the product dominates the market i.e high market share. Secondly, it operates in a high growth market. Which means, the product belongs to the situation of a Star.
Answer:
The correct answer is: Tell the manager to think at the long run of the company and how it will impact if a cheap and not so well product is bought in order to save some money.
Explanation:
To begin with, the people who enter the business world must understand the risks of the investments they will made in the future and the fact that it can sometimes cost much more than what is wanted. However, it will be highly recommended by a professional to acquire a product that it may cost much more but it will bring so many more solutions to the company's problem now and in the future. The manager, or the person who makes the decision, has to think very cautiously due to the fact that if he decides to go for the cheap option then in the future it may come with some troubles and that means more money spending. Therefore that the manager has to think in the long term and be wise about the decision.
Answer:
Total overhead= $550,000
Explanation:
Giving the following information:
The total fixed manufacturing overhead cost of $440,000
variable manufacturing overhead of $2.20 per machine-hour
50,000 machine-hours.
To calculate the total overhead, we need to sum to the fixed overhead the total variable manufacturing overhead:
Total overhead= 440,000 + 2.2*50,000= $550,000
Answer:
The firm will not sell any output.
Explanation:
The characteristics of perfect competition are:
Large Number of Buyers and Sellers.
Homogeneity of the Product.
Free Entry and Exit of Firms.
Perfect Knowledge of the Market.
Perfect Mobility of the Factors of Production and Goods.
Absence of Price Control.