Answer:
marginal resource cost is equal to their MRP
Explanation:
A business's profit will maximize when its marginal resource cost equals its marginal revenue product.
Marginal revenue product calculated by multiplying the marginal physical product (MPP) times the marginal revenue (MR), e.g. an additional worker can produce 10 units and each unit costs $10, MRP = 10 x $10 = $100
Marginal resource cost is the cost of using an additional unit of input, e.g. cost of hiring an additional worker.
Answer:
raises;larger;decrease;always.
Explanation:
Consider the relationship between monopoly pricing and the price elasticity of demand. If demand is inelastic and a monopolist raises its price, quantity would fall by a larger percentage than the rise in price, causing profit to decrease. Therefore, a monopolist will always produce a quantity at which the demand curve is elastic because he or she will be maximizing profits.
A monopolistic market is a type of market structure that is typically characterized by a single supplier or seller of a particular product without any competition from any other in the market. The features of a monopolistic market are;
- Single seller.
- Profit maximizer.
- Price maker.
- High barriers to entry for others.
- Price discrimination.
- No close substitutes or competition.
Answer: Positioning
Explanation: Positioning is a marketing strategy which is aimed at defining a brand's quality and offering in a distinctive manner. Positioning is used to set the boundary and establish the differences in the offerings and services by a firm which sets it apart from that offered by competing firms producing similar products or rendering similar services. Positioning defines the stand of a company's product or services in relation to that it's competitors by stating unique offerings of the firm's product. Therefore, giving customers a distinctive knowledge or understanding of the product from that of its competitors.
Answer:
Effect on income= $0
Explanation:
<u>Because the company has excess capacity and it is a special offer that would not affect normal sales, we will not include the fixed costs.</u>
Effect on income= total sales revenue - total variable cost
Effect on income= 24*4,960 - (20 + 4)*4,960
Effect on income= $0
I will use one the technology to boast my work output so that i can be more efficient in my business dealings and boast productivity.
<h3>What is the role of technology?</h3>
The use of technology is one that has helped a lot of business professionals to be more and more efficient in their work output.
Therefore, I will use one the technology to boast my work output so that i can be more efficient in my business dealings and boast productivity as it also helps to keep employee information safe.
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