Answer:
$343,000
Explanation:
Given that,
Sales revenue = $385,000
Operating expenses = $65,000
Net loss = $23,000
Gross profit:
= Net loss + Operating expenses
= - $23,000 + $65,000
= $42,000
Cost of goods sold:
= Sales revenue - Gross profit
= $385,000 - $42,000
= $343,000
Therefore, the amount of cost of goods sold for the Lucky is $343,000.
Answer:
Non-price competition
Explanation:
Non-price competition is when producers use other factors other than the price of their good or service to raise the demand for their product.
Optimax is trying to increase its market share by changing the container for its product. This is non price competition.
Price war is when producers lower the price of their goods in an attempt to increase the demand for their product.
Price leadership is when the dominant firm in an industry sets the market price.
I hope my answer helps you
Answer:
False
Explanation:
In a perfectly competitive market the sales revenue is based on pricing also. As the pricing policy also plays an important role in the marketing technique to attract customers.
As the quality served is generally the same in the market, there is no issue in that but when the price is reduced expected sales will increase and accordingly the expected revenue also increases.
As the sales is expected to increase the revenue will also increase accordingly, even though the price is reduced, due to increase in sales quantity the expected change shall not be same as that of the change in price.
Thus, the statement is False.
Well, insurance or taxes! :D
