All categories

3 years ago

What should a firm do to minimize cost

1 answer:

3 0

There’s a couple things you can do.

Small firms have higher average costs, so if you can bring down average costs and increase output, then it will lead to lower average costs. Other things you could do to reduce costs are:

Reduce supply expenses.

Cut production costs.

Lower financial expenditures.

Modernize your marketing efforts.

start an internship program (free labor)

I hope that helps.

You might be interested in

Mechanistic vs. Organic Structures Managers taking a contingency approach must consider numerous factors in designing the best k

aleksandr82 [10.1K]

Answer:

Mechanistic Organizations Organic Organizations

- Few teams and task force - Few rules and procedures

- Formalized communication - Shared tasks

- Centralized hierarchy of authority - Flatter structure

- Narrow span of control - Many teams and task force

- Many rules and procedures - Decentralized hierarchy of authority

- Specialized task - Informal communication

- Taller structure - Narrow span of control

3 0

3 years ago

All of the following would shift a product's demand curve except a(n): A. increase in the price of the product B. decrease in co

GrogVix [38]

Answer:

A. increase in the price of the product

Explanation:

An increase in price of the product leads to a movement along the demand curve and not a shift of the demand curve.

A decrease in consumer income shifts the demand curve to the left

An increase in the price of a substitute leads to an increase in demand when a shift of the demand curve to the right.

I hope my answer helps you

8 0

4 years ago

14% of all cell phone users use their phone for internet access. In a random sample of 10 cell

ValentinkaMS [17]

Answer:

Less than 2 but more than 1

Explanation:

You just need to find 14 percent of 10. Since 10% of 10 is 1, we know that 20% would be 2 and therefore it would be more than 1 but less than two

8 0

3 years ago

An advantage of a production line process is A. higher volume of output needed to justify the investment. B. greater degree of f

Artyom0805 [142]

Answer:

D. lower per unit cost of items produced on the line.

Explanation:

"The primary benefit of assembly lines is that they allow workers and machines to specialize at performing specific tasks, which can increase productivity. Large-scale assembly lines can allow for mass production of goods that would not be possible if products were made from start to finish by a single worker. The high productivity of mass production can also result in lower cost per unit produced than other manufacturing methods."

Reference: Hamel, Gregory. “Pros & Cons of Manufacturing Products With Assembly Lines.” Small Business - Chron.com, Chron.com, 21 Nov. 2017

3 0

3 years ago

Ferkil Corporation manufacturers a single product that has a selling price of $20.00 per unit. Fixed expenses total $63,000 per

pshichka [43]

Answer:

Break-even point= 11,500 units

Explanation:

Giving the following information:

Selling price= $20.00 per unit.

Fixed expenses= $63,000 per year.

Break-even point= 9,000 units to break even.

Desired profit= $17,500

First, we need to calculate the unitary variable cost:

Break-even point= fixed costs/ contribution margin

9,000= 63,000 / (20 - unitary variable cost)

9,000*20 - 9,000x= 63,000

180,000 - 63,000= 9,000x

117,000/9,000=x

13= unitary variable cost

Now, we can calculate the number of units:

Break-even point= (fixed costs + desired profit) / contribution margin

Break-even point= (63,000 + 17,500) / (20 - 13)

Break-even point= 11,500 units

3 0

3 years ago

What should a firm do to minimize cost​

What should a firm do to minimize cost