Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in a sustainable competitive advantage.
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Explanation:</u></h3>
When a firm offers its customers with any products that has higher quality and benefits or lower price that its competitors then it refer to the competitive advantage. It is the advantage that the firm attains when compared with their competitors.
There are many different kinds of competitive advantage that can be used by a firm such as cost, product differentiation, niche strategies, etc. It is the thing that is absent in the competitors. In the given example, Nordstrom has well known reputation for the service that it gives for its customers and hence it is the likely result of sustainable competitive advantage.
Answer:
The sales unit to achieve a target profit of $6,250 is 545 units
The sales units to achieve to achieve a target profit of $9,400 is 590 units
Explanation:
The quantity at target profit=fixed cost+target profit/contribution per unit
fixed expense=$31,900
target profit $6,250
contribution per unit=$140-$70
=$70
unit sales at a target profit of $6,250=($31,900+$6,250)/$70
=545 sales units
fixed expenses $31900
target profit of $9400
contribution per unit is $70
unit sales at a target profit of $9,400=($31900+$9400)/$70
=590 sales unit
Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
D. $42,000 should be debited to Land Improvements
Explanation:
The cost of the land housing the parking is recorded in the land account. Other costs such as paving cost and lights are improvements and as such are added and recorded in the Land Improvements accounts.
Total Land improvements = $30,000 + $12,000
= $42,000
The right answer is D. $42,000 should be debited to Land Improvements.
Answer:
Executive Director, Non Executive Director
Explanation:
Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc., even though he doesn't work for this firm. He also serves on the boards of several other companies. Landon is an Executive Director for Anderssen and a Non Executive Director for EEC.
An executive director has operational responsibilities in a firm but a non executive director does not have operational responsibilities in a firm but is involved in planning and policy formation which are strategic activities.
Operational refers to the daily running of a business.
