A pricing tool that focuses on the changes in total revenue and total cost from selling one more unit to find the most profitable price and quantity is called Marginal analysis.
Marginal analysis is an examination of the added benefits of an activity against the incremental costs resulting from the same activity. Businesses use marginal analysis as a decision-making tool to help them maximize their potential revenue. For example, if a company has a budget to make room for another employee and plans to hire another person to work in the factory, marginal analysis indicates that hiring that person provides a net marginal benefit.
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To find the gross profit margin found by:
(revenue - cost of goods sold)/revenue
Revenue = $62,275
Cost of goods sold (purchase price) = $26,500
= (62,275 - 26,500)/62,275
= 35,775/62,275
= 0.57 x 100
Percentage of gross profit = 57%
A shift to the right of the demand curve signifies a "increase in demand," whereas movement along a particular demand curve signifies a "increase in quantity demanded." The correct response is option (B).
<h3>What is increase in demand?</h3>
A rise in demand will cause a rise in the equilibrium price and an increase in supply, all other things being equal. Reduced demand will result in a decrease in the equilibrium price and an increase in supply.
An rise in the quantity needed results from a decrease in the cost of the good (and vice versa). A demand curve depicts the amount desired and any market price. A change in quantity demanded is represented as a shift along a demand curve.
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Spirituality acknowledges that there is more to life than what you do on a daily basis. It can help you realise your life's bigger purpose and free you from dependence on material possessions. Meditation, spiritual reading, practising gratitude, spending time in nature, and mindful breathing are some of the attentive strategies I employ to become more spiritual and enhance my lifestyle.
Spirituality is a broad concept that allows for a range of opinions. It typically involves a search for meaning in life and, generally, a sense of connectedness to something bigger than ourselves. Whether our spiritual activities are based in religion, nature, art, or something else entirely, spirituality may be a guiding force because it gives us a reason for being. This guiding light improves our compassion for ourselves and others while also assisting us in achieving serenity, which is one of the many ways it promotes our mental health.
Volunteerism, social duty, optimism, helping others, connection with others, feeling like you belong/are a part of a community, and love of oneself/reason to take care of oneself are a few examples.
Additionally, spirituality can be employed as a coping mechanism for uncertainty or transition. Everyone should make an effort to meditate for at least a minute in the morning. Be open to signs from the universe at all times.
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