If you need to indicate the missing ammount of each letter in the grahp then it will be like follows:
For the first case:
A = $9,600 + $5,000 + $8,000 = $22,600$22,600 + $1,000 – B = $17,000
B = $22,600 + $1,000 – $17,000 = $6,600$17,000 + C = $20,000
C = $20,000 – $17,000 = $3,000
D = $20,000 – $3,400 = $16,600
<span>E = ($24,500 – $2,500) – $16,600 = $5,400
</span><span>F = $5,400 – $2,500 = $2,900
</span>And now for the second case:
G + $8,000 + $4,000 = $16,000
G = $16,000 – $8,000 – $4,000 = $4,000$16,000 + H – $3,000 = $22,000
H = $22,000 + $3,000 – $16,000 = $9,000(I – $1,400) – K = $7,000(I – $1,400) – $22,800 = $7,000
<span>I = $1,400 + $22,800 + $7,000 = $31,200
</span>J = $22,000 + $3,300 = $25,300
K = $25,300 – $2,500 = $22,800$7,000 – L = $5,000
<span>L = $2,000</span>
Answer:
b. Reducing the minimum wage and the time and cost to open a business would shift the long-run aggregate supply curve to the right
Explanation:
Minimum wage is a wage set by the government, to pay for laborers. Wages below this is illegal. Wages are also a major cost to any firm. When they have been reduced, cost of production is likely to fall. Cost of production is a factor affecting supply. When cost of production falls, supply shifts right.
This is explained as that when cost of production falls, businesses can now make higher profits. This acts as a motivation for many other firms to also enter into the market. Therefore, supply is likely to rise in the long-run, shifting the supply curve to the right.
Time and cost to open a business is another factor affecting supply. When the time and cost is high, it discourages new firms because they do not want to undergo the hassle of submitting many legal documents or may not have enough funds to pay for all the costs. However, when the cost and time taken falls, more firms will be willing and able to enter into the market. Thus, the supply curve shifts right in the long run, increasing quantity supplied.
Answer: The LP model is given as :
max: 1.180( 420000 A + 500000 B )
subject to : (a.) 7000 A + 2500 B ≤ 100000
(b.) 7000 A ≤ 70000
(c.) 2500 B ≤ 50000
Explanation:
Let us assume;
A be the no. of T.V spots
B be the no. of magazine spots
Given:
(a.) Mountain Mist earns a profit margin of $1.80 on each case of soda that it sells.
(b.) Each TV spot costs $7000 and is expected to increase sales by 420,000 cases.
(c.) Each magazine ad costs $2500 and is expected to increase sales by 500,000 cases.
∴ The objective function of this model will be given as :
max: 1.180( 420000 A + 500000 B )
(d.) A total of $100,000 may be spent on TV and magazine ads combined.
(e.) Mountain mist wants to spend no more than $70,000 on TV spots and no more than $50,000 on magazine ads.
∴ The subjective function will be :
(a.) 7000 A + 2500 B ≤ 100000
(b.) 7000 A ≤ 70000
(c.) 2500 B ≤ 50000
∴ The LP model is given as :
max: 1.180( 420000 A + 500000 B )
subject to : (a.) 7000 A + 2500 B ≤ 100000
(b.) 7000 A ≤ 70000
(c.) 2500 B ≤ 50000
A sales representative is a person who works for a particular brand or company and helps in selling the products or services of a company while at the same time representing the brand. The sales representative basically works by contacting the customer until the time the product is sold or the customer had made use of the service.
There are certain skills required by the sales representative like-
- Communication skills- good communication skills are required by every sales representative, as it enable a person to represent his and his company’s views more efficiently.
- Negotiation skills – these skills also ensure that you can make good relations with other big companies that widen your brand network.
- Public skills – these will help you in better public speaking whenever you have to give presentations on a brand’s goals or views.
- Organizational skills- as the workload is more you will need to organize yourself so you can complete your tasks on time.
- Therefore, out of the four candidates, the person who has all these important skills will get selected in the interview for sure and moreover, and will surely impress his employer with these certain skills.
Learn more about Pre-approach selling process here-
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