Answer: Marketopia has a comparative advantage in the production of pies.
Explanation:
The bakery with the comparative advantage in any of the goods is the one that has a lower opportunity cost in making it.
Marketopia.
Opportunity cost of Cookies = 18/30 pies = 0.6 pies
Opportunity cost of pies = 30/18 pies = 1.67 cookies
Econladia
Opportunity cost of Cookies = 9/90 pies = 0.1 pies
Opportunity cost of pies = 90/9 pies = 10 cookies
<em>It is shown that Marketopia has a comparative advantage in the production of pies because the opportunity cost of such is 1.67 cookies as opposed to Econladia which is 10 cookies. </em>
Answer:
Relationships; Competition.
Explanation:
In today's business environment, firms that truly focus on customers must instill a corporate culture that places customers and other stakeholders at the top of the organizational hierarchy. when this occurs, the firm shifts its focus from transactions to <u>relationships</u>, and from <u>competitions</u> to collaboration.
Customer are considered to be king in the current open market condition, where seller are trying every bit to attract more and more customer. When a firm possesses capabilities that allow it to serve customers' needs better than the competition, the firm is said to have competitive advantage, however, this lead to shift of focus from transaction to relation building with customer to gain profit in long run and it does not focus only on competition but look for collaboration with customer to gain competitive advantage for future.
Answer:
5341288
Explanation:
Data provided in the question:
Volume of the living quarters = 213 cubic feet
Now,
The dimensions of the US dollar bills are
width = 2.61 inches
Length = 6.14 inches
Thickness = 0.0043 inches
Thus,
Volume of a single dollar bill = 2.61 × 6.14 × 0.0043
= 0.06890922 cubic inches
Also,
Volume of quarter in cubic inches = 213 × 12³
[ ∵ 1 ft = 12 inches ; 1 ft³ = 12³ cubic inches]
Thus,
Volume of quarter in cubic inches = 368064 cubic inches.
Thus,
Number of dollar bills that can fit in there
= [ Volume of quarter in cubic inches ] ÷ Volume of a single dollar bill
= 368064 ÷ 0.06890922
= 5341288.15 ≈ 5341288
Answer:
Model Y
Explanation:
Calculation for the which model is the most profitable to produce
Using this formula
Most profitable to produce=Selling price-Direct materials-Direct labor-Variable support costs
Let plug in the formula
Model X $52 - $8 - $16- $5 = $23
Model Y $60 - $8- $16 - $10 = $26 Most profitable
Model Z $74- $8 - $33 - $10 = $24
Therefore the model that is the most profitable to produce is MODEL Y because it has the highest amount of $26
Answer:
B is the correct option.
Explanation:
In theory, the perfect market is the structure in which all the firms sell identical products,They all are price takers, the market share doesn't influence the prices, firms can enter or exit the market without cost and resources are perfectly mobile. No markets are in the sphere of the perfect competition model. so they are classified as imperfect. The imperfect and perfect market is the outcome of post-classical economic thought of the Cambridge tradition.