Answer:
Product
Explanation:
Product concept is based on general behavior of consumer. According to this concept consumers prefer product which has the best features, quality and performance given the price of product. Product concept is one of the important marketing strategies in order to match the expectation and demand of customers. Product concept facilities in giving identity to the product in relation to other similar product in the market. This concepts consistently asses the needs of consumer by using research and survey of market and consumer. Based on it features of products are modified to make product better.
Since this problem statement is discussing about desirable attributes of products and improvement in product it pertains t product concept as defined above.
Answer:
• Degree of operating leverage = $2
• Expected Percent change in income = 20%
Explanation:
Details provided from the question includes ;
Total contribution margin = $80,200
Pretax net income = $40,100
Expected increase in sales value = 10%
Therefore;
Degree of operating leverage
= Contribution margin ÷ Net operating income
= $80,200 ÷ $40,100
= $2
Percent change income
= Percentage increase in sales × Degree of operating leverage
= 10% × 2
= 20%
Answer:
Total Insurance need $166,500
Explanation:
Life insurance [DINK method]
Amount mortgage loan (half) $145,000
Auto loan(half) $7,500
Credit card balance(half) $2,000
Other debts(half) $4,000
Funeral cost $8,000
Total Insurance need $166,500
Answer: (B) Inelastic
Explanation:
According to the question, when the price of the t-shirt get increased then it generate the high revenue. This result into the decrease in the given quantity and it is smaller change as compared to the change in the price.
This process of the quantity results into the good in the inelastic. Inelastic is the term which is refers to the static quantity of the various types of good and the services and its price are get changed.
Therefore, Option (B) is correct.
The new equilibrium price is higher and the new equilibrium quantity is higher
