Answer:
A convenience store that sells milk, beer, lottery tickets, snacks, and flashlights
Explanation:
Product width is an aspect of overall product mix, or the products a company offers. Think of product width as categories- if they offer a lot of different categories of items they are using <u>more product width</u>. If they offer a lot of products in one type (health &beauty, local produce, types of pants, etc) this is known as product <em>length</em>.
Width is the number of categories, length is the number of items in each category.
Answer:
Sunk cost
Explanation:
The sunk cost is the cost already incurred that will not be recovered in the future. Plus, it's also called past expenses.
This expense is not considered at the time when the decisions are taking and it should be neglected as it is not relevant at the time of the decision-making process
In the given scenario since the amount already spent for a movie ticket and for popcorn and we know that we cannot recover now so it would be termed as a sunk cost
Answer:
A. Take $1 million now.
Explanation:
A. If we take $1 million now the present value of the money is $1 million.
B. If we choose to take $1.2 million paid out over 3 years then present value will at 10% will be;
$300,000 + $300,000 / 1.2 + $300,000/ 1.44 + $300,000 / 1.728
$300,000 + $250,000 + $208,000+ $173,611 = $931,944
The present value of option B is less than present value of option A. We should select option A and take $1 million now.
To find the fixed cost, we need add all costs that do not change with the number of haircuts. These are the salaries of the barbers and the manager bonus, the advertisement fees, rent and the magazines. We also have the standard part of the utility payment, the 170$. Those add up to:
6*1310+520+280+980+20+170=9830$. We also have regarding the variable costs:
The utilities variable part are included since they depend on haircuts, barber supplies and the base rate of each barber per haircut. Hence those are:
(5.90+0.38+0.27 per haircut)=6.55$ per haircut
