Answer:
The correct answer is option C.
Explanation:
`If firms can easily enter and exit the market, then firms operating in the market will earn zero economic profit in the long run. This is because the short run is too short for firms to enter and exit so potential firms will enter and exit in the long run.
If the existing firms will be having negative profits, the firms having loss will exit the market. This will reduce market supply. As a result, the price level will increase. This will go on until all firms will have zero economic profits.
Similarly, if the existing firms are having positive economic profits in the long run, the other firms will enter the market. This will increase the market supply such that the price level decreases. This will go on till all the firms will be having zero economic profits.
Answer:
Letter B is correct. Brand association.
Explanation:
Brand association is a relevant marketing tool for adding value to a brand.
Marketers use resources so that there is some kind of association, value, brand awareness in the consumer's subconscious mind so that they are naturally induced to establish a preference for a particular brand. Associations are responsible for creating thoughts, opinions and actions about a brand, so marketing efforts should be related to designing a positive consumer association with the brand, which will bring added benefits of recognition, satisfaction, loyalty, price, leadership and others, which help in creating the distinctive value of a brand.
Answer and Explanation:
Given:
Total car = 200
Rate = $29
Computation:
Total increase in rate = a
So , Total decrees in car = 5a
Total income (y) = [200-5a][29+a]
y = 5,800 + 200a - 145a - 5a²
y = 5,800 + 55a - 5a²
y' = dy / da [5,800 + 55a - 5a²]
y' = -10a + 55
in which , y' = 0
0 = -10a + 55
a = 5.5
So , Maximum rate = $ [29+5.5]
Maximum rate = $34.5
maximum income = 5,800 + 55(5.5)- 5(5.5)²
maximum income = 5,800 + 302.5 - 151.25
maximum income = $5951.25
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Parametric estimation is a techniques that uses a statistical relationship to calculate cost or duration based on historical data and other project parameters
Parametric estimation is a quantitative method (statisitical relationship) used to estimate the project cost, resources, and duration based on historical data and other project parameters.
Parametric estimation models are used when:
- There is precedent
- The model is a unit hence can be scaled up
- The parameters required are easily quantifiable
While the other options of this question is incorrect because:
b. grass roots estimating
Cost estimation done by the individuals who will be performing the task being estimated.
c. empirical estimating
Estimation method in which the data is obtained using empirical formulas. It is usually based on an amalgamation of historical data, assumptions, guesses, and personal experience.
d. analogous estimating
Also called top-down estimating, this is a technique that involves comparing previous projects, personal experiences and cursory cross-referencing observed costs to estimate time resources required. This technique is most useful in the absence of quantifiable data.
You can learn more about project estimation at
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