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3 years ago

If the market price of each camera case is $8 what is the profit-maximizing quantity? 300 units 400 units 500 units 600 units

Business

1 answer:

Serjik [45]3 years ago

3 0

Profit will be maximum for the firm where marginal revenue = marginal cost.

Since, the market price is fixed at $8 and therefore each additional unit of camera will be sold at $8.
Hence, marginal revenue = $8.

From the table, it is clear that cameras are manufactured in batches of 100.

Marginal cost is the cost incurred to produce one additional unit of camera. It will be calculated by taking the difference of successive variable costs (or total costs) divided by 100.

To produce 400th unit, marginal cost = (2760 - 1960)/100 = $8

Hence, profit maximising quantity isB. 400 (MR = MC)

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Denise Hunter had Thomasville brand living room furniture and wanted to buy a particular chair of the same brand. She made a few

miskamm [114]

Answer:

a specialty product

Explanation:

Based on the scenario being described within the question it can be said that For Denise, the chair can be categorized as being a specialty product. This is a product that very specific individuals will seek to purchase due to the product's unique characteristics or the individuals loyalty to a specific brand. Which is the case with Denise, since she is loyal to the brand and wanted a chair only from that specific brand.

7 0

3 years ago

when a person uses face-to-face presentations to promote goods and services, he is said to be using as a sales technique.

gulaghasi [49]

Personal selling is the face-to-face presentation and promotion of products and services.

<h3>What is personal selling?</h3>

Personal selling, commonly referred to as face-to-face selling, is a sales technique where a single salesperson tries to persuade a consumer to purchase a product. It is a type of advertising where the salesperson employs their knowledge and talents in an effort to close a deal.

<h3>What do you mean by sales technique?</h3>

A sales technique is a strategy of selling used by a company's sales team or a salesperson to close more deals and make more money. It's a tactic to improve a company's sales procedure. A sales methodology is adaptable and open to change once its efficacy has been tested through trials.

To know more about salesperson, visit:

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6 0

1 year ago

The city of New Orleans has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $80,000 a

mezya [45]

Answer:

Jacobs will earn $1,080,000

Explanation:

The earnings of the work factor are made up of two factors: Transfer Earnings + Economic Rents.

Transfer earnings are defined as the minimum required amount that a company must pay its workers to keep them in the workplace. Below this amount, the worker will leave his job. In this case, the Transfer Earnings are $ 80,000, which is the base salary of every designer.

On the other hand, the Economic Rents are the additional income that the worker receives and that is above the minimum level they need to supply his work (In this case, the additional income is given by Jacobs' special ability). In numerical terms, the Economics Rents amount is equivalent to the difference between the earnings obtained by the Jacobs company and the earnings obtained by the other companies.

That is: 1,500,000 - 500,000 = 1,000,000.

Therefore Jacobs salary is equivalent to 80,000 + 1,000,000 = 1,080,000.

From this, it can be deduced that approximately 92% of Jacobs' salary is equivalent to Economic Rents. From the theoretical point of view, this makes sense, because the demand for designers (which is a highly qualified profession) is very inelastic, and the more inelastic the greater the proportion of Economic Rents as part of the salary. In the annexes, I show it graphically.

8 0

3 years ago

Suppose lawyers seek legislation to limit the use of computer software that enables people to use their personal computers to se

Harman [31]

Answer:

c. rent-seeking behavior

Explanation:

In economics, rent-seeking behavior can be described as a behavior or conduct that tries to increase the share of an economic agent or an entity from the existing wealth without adding or creating new wealth. This implies that the entity aims to obtain added wealth without creating a new one.

From the question, the aim of the lawyers is mainly to increase their own wealth in terms of legal fees they will collect from preparing wills, trusts, and other legal documents when they prepare them for people when a law restrict people from self-preparing it using their personal computers. In turn, the lawyers will only increase their share of wealth without adding any wealth.

Therefore, this is an example of rent-seeking behavior.

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3 years ago

Suppose that the pound is pegged to gold at 6 pounds per ounce, whereas the franc is pegged to gold at 12 francs per ounce. This

zmey [24]

Answer:

we can look at this problem from 2 different point of views:

if you have francs and wish to buy pounds: then you take 12 francs and purchase 1 ounce of gold, and then you sell it for 6 pounds. This way you will only spend 2 francs per each pound instead of 2.2.

if you have pounds and want to make a gain: you take 6 pounds and purchase 13.2 francs and you then buy 1.1 ounces of gold. Then you sell the 1.1 ounces of gold in exchange for 6.6 pounds.

Any of the scenarios does not include any transaction prices nor shipping costs, it is only theoretical.

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3 years ago