Answer: $120000
Explanation:
Share of voice refers to the measure of the exposure that a particular business gets when it's being compared to other competitors. The share of market is the percentage of a market that a company earns.
From the information given, since 60% of the market sales equate to $240000 spent a year, then in order to achieve a market share of 30%, ½ of $240000 will be spent which is $120000. Therefore, Great Catch should be prepared to spend at least $120000 if it hopes to achieve a market share of 30 percent.
Answer:
Normal goods are those goods which see their demand rise when income rises and fall when income falls. Inferior goods on the other hand will see their demand fall when income rises and vice versa.
a. Book = Normal Good
Coffee = Neutral good
The demand for Books increased when Bill had more money which makes it a normal good.
The demand for coffee did not change when new income came thereby making it a neutral good.
b. Book = Normal Good
Coffee = Inferior good
The demand for Books decreased when Bill had less money which makes it a normal good.
The demand for coffee increased when Bill's income reduced thereby making it an inferior good.
c. Book = Normal Good = Coffee
Both coffee and books are normal goods because Bill is buying less of them when their prices increase because it means that Bill has less income to spend on them.
d. More information needed.
We are unable to tell which goods are normal or inferior as we are not given information on the relative changes in demand as a result of income changing.
The price of food, water and oil would go up
Hope you get to 200 and more.
Answer:
Check the following explanation and images attached
Explanation:
The assumptions in single-server queue theory include: -
Unlimited calling population may enter the queue
Arrivals are random and independent but average number of arrival does not change.
Single waiting line and arriving customers are patient customers who can wait in the queue before they can be served regardless of the length of the line.
Arrivals are served on FIFO basis
Service time of one customer may vary from that of another customer.
Single server and service time is as per the negative exponential probability distribution.
Average service rate is greater than average arrival rate.
