This best describes a(n) approach integrated marketing communications.
What strategies does Subway use to reach and effectively persuade its audiences?Subway uses a variety of strategies to reach and effectively persuade its audiences.
One of the main strategies is its advertising campaigns, which include a mix of traditional and digital platforms.
The company has also utilized influencer marketing, partnering with celebrities and social media influencers to reach their target audience.Subway also implements loyalty programs and promotions to reward their customers, which encourages repeat purchases.Additionally, Subway has invested in their online presence, utilizing social media platforms to engage with customers, showcase their menu offerings, and promote special offers.Finally, Subway has incorporated a strong focus on health and wellness in their messaging, which appeals to their core target audience of health-conscious consumers.To learn more about marketing refer to:
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as businesses expand to serve markets, new jobs will be created in service and manufacturing. there will also be more to fill those jobs.
As businesses expand to serve larger markets, people will be needed to fill positions in the service and manufacturing sectors. This will create a large number of new jobs in these areas, which require different skills and knowledge.
In addition, businesses will need to hire more people to handle the increased workload associated with serving a larger market. This will result in a greater need for skilled workers and higher wages to attract the best talent. In addition, businesses will need to invest in new technology and equipment to meet the demands of the larger market, leading to further investment in the local economy. This will create new employment opportunities and create a ripple effect of job growth in various sectors.
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page 121 5.1. what are consumer surplus and producer surplus? pedro wants to buy a new car. the most he is willing to pay is $21,000. if he finds a car for $18,000, what will his consumer surplus be?
Consumer surplus is the difference between the maximum amount a consumer is willing to pay for a product and the actual price they pay for it. In this case, Pedro's consumer surplus would be $3,000.
To calculate Pedro's consumer surplus, we first need to determine the most he is willing to pay for a new car. In this case, it is $21,000. Next, we need to determine the actual price he pays for the car. In this case, it is $18,000.
To find the consumer surplus, we subtract the actual price from the maximum amount the consumer is willing to pay. In this case, $21,000 - $18,000 = $3,000.
Therefore, Pedro's consumer surplus is $3,000. Consumer surplus is the measure of the benefit that a consumer receives from buying a good or service at a lower price than they are willing to pay for it. It is the difference between the maximum price the consumer is willing to pay and the actual price they pay.
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thinks about the advantages and disadvantages of partnerships and franchises. from your point of view, which do you think would be a better way too be in business
In my view, a partnership would be a better way to do business. Partnerships can offer several advantages, such as shared costs, shared risks, and the ability to pool resources and expertise.
The partnership also provides an opportunity for business growth with the addition of new members and resources. On the other hand, franchises can be expensive and require a large initial investment as well as ongoing royalty payments. Additionally, franchisors may have strict rules and regulations that limit the amount of freedom and flexibility business owners have. Ultimately, partnerships have the potential to provide greater economic benefits while offering greater freedom and flexibility.
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a manufacturer of coffee makes recalled all of its products after learning that nearly 50 people had been injured after the glass carafes shattered when hot coffee was allowed to sit in it. these people planned to bring a lawsuit against the manufacturer. that lawsuit would be based on
That claim would be based on product liability.
How does production operation?Manufacturing is the creation or production of goods using resources including equipment, labor, tools, chemicals, or biological formulas. It serves as the secondary sector of the economy's hub. The expression can be used to represent a range of human endeavors, from handicraft to high-tech, but it is most usually associated with industrial design, which requires the extensive transformation of raw materials from the primary sector into finished goods. Such goods may be supplied through the tertiary sector to final users and clients or sold to other producers for the development of additional, more complex goods (such as automobiles, household appliances, furniture, or sports equipment).
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Based on the National Do-Not-Call Registry, how long after a company listing has expired may a licensee call the owner to solicit business?a. 18 months.
b. Never, if the seller is on the National Do Not Call Registry.
c. 3 months.
d. 1 month.
Option B is correct. Never, if the seller is on the National Do Not Call Registry.
The National Do-Not-Call Registry is a list of phone numbers of individuals who have opted out of receiving telemarketing calls. If a company or individual is on the National Do Not Call Registry, telemarketers are prohibited from calling that number for any reason, including the solicitation of business. Once a number is on the registry, it remains on the list permanently, unless the individual chooses to remove it. Therefore, a licensee is not allowed to call the owner to solicit business if the seller is on the National Do Not Call Registry.
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A strong world economy pushes Singapore's currency the Singapore dollar (SGD) to a record high of 1.15 SGD=$1. The GDP of Singapore also increases by 10,000 SGD to 190,000 SGD. What is Singapores GDP when measured in USD? Round your answer to the nearest hundredth.
Singapore's GDP is $165,217.39 in USD terms when the GDP of Singapore increases by 10,000 SGD to 190,000 SGD.
What exactly is the GDP?The gross domestic product (GDP) is the total monetary value of all finished goods and services produced within a country's boundaries during a specific period of time. It is a comprehensive measure of overall domestic production, and it provides an in-depth evaluation of a country's economic condition.
GDP is now adjusted for inflation, so it gives a net value. GDP is typically calculated on an annual basis, but it can also be computed on a quarterly basis. For example, the US government estimates GDP both for the full year and for each fiscal quarter.
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the purpose of an income statement is to: multiple choice question. summarize the profit-generating activities that occurred during a particular reporting period report the risk involved in operating the business for the reporting period report the cash inflows and cash outflows for the period report assets, liabilities, and stockholders' equity for the period
The purpose of an income statement is to A. summarize the profit-generating activities that occurred during a particular reporting period.
An income statement is a financial statement that shows the income and expenses of a company. It also displays if a corporation is profitable or losing money over a given time period. The income statement, along with the balance sheet and cash flow statement, assists you in understanding your company's financial health.
The income statement is also known as a profit and loss statement, statement of operations, financial result or income statement, or earnings statement.
A profit and loss statement assists business leaders in determining if they can produce profit by increasing sales, cutting expenditures, or both. It also demonstrates the efficiency of the strategies established by the company at the start of a fiscal term.
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A spa has the following marketing objective:
• To increase the sales of manicures by 10%
Which requirement of a SMART objective does this not meet? *
O Specific
O Achievable
O Timely/Time
To increase the sales of manicures in a spa by 10%, it does not meet the timely requirement of a SMART objective.
What do you mean by a spa?
A spa is a place of relaxation and rejuvenation that can help improve overall wellbeing. It is a place to escape from the day-to-day stresses of life and indulge in some pampering. Generally, a spa provides an array of services such as massage, body treatments, facial treatments, and other therapeutic services. These services help to relax the body, reduce tension, and improve physical and mental wellbeing. Common spa treatments include hot stone massage, exfoliation and wraps, nail care, and waxing. Other services like yoga, meditation, and acupuncture may also be offered. A spa is a great place to treat oneself to a day of rest and relaxation, or to enjoy a luxurious spa package. It is a great way to improve mental and physical health, while also taking some time to restore the mind and body.
So, The required answer is timely.
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for an 18-year-old that is about to move away to college, which of the following monetary transaction tools is most safe to avoid identity theft and insurmountable debt? a. platinum card b. stored value card
Stored value cards are the safest and most secure way for an 18-year-old about to move away to college to manage his money transactions. Stored value cards are prepaid cards that limit the amount of money that can be spent and are not linked to a bank account.
The user can spend only the amount loaded on the card and nothing more. This makes them a great way to help an 18-year-old manage their budget and stay within their spending limits. Stored value cards also offer some degree of protection against identity theft because they are not linked to bank accounts and do not require a credit check. Finally, stored value cards are a great way to help an 18-year-old avoid insurmountable debt because the pre-loaded balance prevents them from spending more than they have to.
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in order to improve on his company's products, joe is attempting to find more efficient ways to produce the products themselves. joe is in the process of
Joe is looking for more effective ways to make the products so that his company's offerings can be improved. Joe is engaged in an innovation process.
Innovation is the practical application of concepts that leads to the launch of new products or services or enhancements in the provision of existing products or services. Innovation is described by ISO TC 279 in the standard ISO 56000:2020 as "a new or altered entity realizing or redistributing value." Others have other meanings; a recurring theme in the definitions is a focus on the novelty, development, and dissemination of ideas or technologies.
Innovation frequently occurs as a result of the creation of more useful goods, procedures, services, technology, artistic creations[3], or business models that innovators make available to consumers, the state, and the general public.
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The complete question is
in order to improve on his company's products, joe is attempting to find more efficient ways to produce the products themselves. joe is in the process of ____________
Ans is : Innovation
why is vancouver ranked much higher in terms of quality of life than seattle, although they are nearly the same regarding crime, economy and nature?
Seattle's city limits are more than double the size of Vancouver's. So, Vancouver is far more densely populated and cosmopolitan, with 55% of the population being foreign born, largely in Asia, whereas Seattle is much more domestic, with just 19% foreign born.
Vancouver is a popular destination for newcomers to Canada, particularly those from the Asia-Pacific region. That's hardly surprising given that it's one of the most beautiful and pleasant cities in Canada and the globe. It has a warm temperature, cultural richness, and a stunning natural environment, all in a developing urban metropolis. Vancouver is one of the most costly cities in the country, but it is also the most liveable. It intends to become the greenest city in the world with its Vancouverism urban planning design concept. There are several reasons why it is an appealing city for prospective immigrants.
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points on the production possibilities frontier are a. efficient. b. inefficient. c. unattainable. d. normative. e. none of the above.
Points on the production possibilities frontier are efficient. Option a is correct.
What is the Production Possibilities Curve?Known by the acronym CPP, this is a model capable of helping a company to identify the opportunity costs of producing two goods, being an advantageous method for analyzing production costs and shortages.
Therefore, when the points are on the production possibilities frontier, they are considered efficient, if they were beyond the frontier, they would be considered unattainable.
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Workplace technology is relied upon by businesses to increase _____________.
Businesses rely on workplace technology to boost productivity and performance.
What is meant by productivity?Productivity, a metric of economic performance, contrasts the volume of goods and services produced (output) with the volume of inputs necessary to produce those goods and services.Output per worker or output per worker/hour are two typical ways to measure productivity. The quantity or cost of the finished goods each employee can create in a specific amount of time may be used as a productivity indicator for a manufacturing organisation. The efficiency of your staff, as determined by the quantity of goods or services they generate or offer in a given period of time, can be used to describe workplace productivity.To learn more about productivity, refer to:
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what present amount is necessary tp attain a future amunt of 7000 in 6 months using an annual simple interest rate of 7%
The present amount is necessary tp attain a future amunt of 7000 in 6 months using an annual simple interest rate of 7% is 140000.
Only the principal, or the remaining fraction of the principal, is used to calculate simple interest. It does not take compounding into account. Simple interest may be imposed on a schedule other than yearly, such as monthly.The starting balance is B.
The amount of time periods that have passed is m, and the frequency with which interest is applied is n.
Consider a situation where a credit card holder owes $2500 and the simple annual interest rate is 12.99% per year, charged monthly. This means that interest is imposed 12 times per year. more than a month,
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cost pools are used with: plantwide ratesdepartment rates a.yesno b.noyes c.nono d.yesyes multiple choice option a. option b. option c. option d.
Cost pools are applied to departmental and plant-wide rates. The right answer is D.
What are the purposes of cost pools?Cost pools represent the total amount of cash spent on a certain "activity," such as manufacturing or customer service. Instead of dividing the overhead expenses evenly among all departments, activity-based costing uses cost pools to precisely track where money is spent.
What does an insurance cost pool mean?The notion of insurance is based on the sharing of risk. A group of people whose medical expenses are pooled in order to determine premiums constitutes a medical insurance risk pool.
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You have inherited $10 Million from your rich uncle Jack. All of the sudden, everybody you know has come to you with business ideas they are asking you to invest in. You have decided that three of these ideas are worth consideration: • Project A: An investment of $1.5 Million at t=0 will yield a payoff of $1.875 Million at t=1 • Project B: An investment of $1.2 Million at t = 0) will yield a payoff of $1.35 Million at t=1 • Project C: An investment of $650 Thousand at t=0 will yield a payoff of $845 Thousand at t=1 1. For each project, calculate the NPV and decide whether you should invest if the interest rate is 15% and you can invest in as many of the projects as you wish (but cannot invest in the same project more than once) 2. If you can only invest in one project, which do you choose? 3. For each project, calculate the IRR and decide whether you should invest if you can invest in as many of the projects as you wish (but cannot invest in the same project more than once) 4. Do the IRRs of the projects mean your answer in part (2) was incorrect? Why or why not? 5. If you again can invest in as many projects as you wish, and you wish to consume $6 Million at t=0, what is the largest amount you can consume at t = 1? 6. How do your answers to all of the previous parts change if you can lend money to the bank at 15% but borrow at 20%?
The NPVs of Projects A and C are both positive, investment should be made in both projects, but not in Project B, whose NPV is negative.
If investment can only be done in one project, One should choose project A as its NPV is higher. If the IRR of projects A and C is higher than the interest rate of 15%, one should invest in projects A and C. Part 2's response was accurate, since if one may invest as many projects as one likes, one must invest in both A and C, but if only one is to be chosen, project A should be chosen.
Investment is the commitment of money to the acquisition of an asset with the goal of increasing its value over time. Investment necessitates the sacrifice of a current item, including such time, money, and effort. The goal of investing in finance is to earn a return on the invested asset. A gain (profit) or loss realized through the sale of a property or investment, unrealized capital appreciation (or depreciation), and investment income such as dividends, interest, and rental income, or even a mix of capital gain and income, may constitute the return. Currency gains or losses owing to changes in foreign currency exchange rates may also be included in the return.
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Jill, in good faith and for value, gets from Kiley a negotiable bearer instrument. Jill does not know that Kiley stole the instrument. Jill is an HDC. not an HDC, because Kiley did not acquire the instrument for value. not an HDC, because Kiley did not acquire the instrument in good faith. not an HDC, because Kiley transferred the instrument without notice.
Jill purchases a negotiable bearer instrument from Kiley in good faith and for value. Good faith is commonly described as honesty in a person's actions during the transaction. Kiley stole the instrument, but Jill is unaware of this. Kiley did not purchase the instrument for value, hence Jill is not an HDC.
You need go no further than your own business operations for an illustration of a good faith exception. You are acting in good faith if you are being honest and ethical with the people you have contracts with and they are honouring their commitments to you.
When the bearer of an instrument payable to his order transfers it for money without endorsing it, the transferee receives the same title that the transferor did and also gains the right to the transferor's endorsement.
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dina works in a residential construction company. she travels to the job site to build a house. the residential construction uses a layout. a. product b. fixed-position c. cellular d. random e. process
Dina is employed for a residential building firm. She goes to the construction site to build a house. The layout of the home development is d. random.
What does it mean to outsource a process, like product design or manufacturing, to a different company?Outsourcing, in its simplest form, is a business strategy whereby previously internal tasks that are a part of a company function are now performed by a third party vendor. To operate their website, for instance, a US-based organization might outsource the work to an Indian firm.
Goods management is the process of placing orders for, storing, utilizing, and reselling a company's inventory. This includes managing raw materials, components, and the storage and processing of such commodities.
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Dina is employed for a house construction firm. She goes to the construction area to construct a home. The design of the home development is d. random.
What is it mean to outsource a procedure, such product design or production, to a new organization?Outsourcing, in its simplest terms, is a strategic approach whereby previously internal tasks that form a part of a company function are now done by a third-party provider. To maintain their website, for illustration, a US-based organization may outsource the job to an Indian firm.
Goods management is the process of making purchases for, storing, utilising, and reselling an inventory costs. This helps manage raw materials, components, and the handling and storage of such commodities.
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If the reserve ratio increased from 10 percent to 20 percent, the money multiplier would: A) rise from10 to 20. B) rise from 5 to 10. C) fall from 10 to 5. D) fall from 20 to 10E) not change.
Option C is correct answer. If the reserve ratio increased from 10 percent to 20 percent, the money multiplier would fall from 10 to 5
What Is the Reserve Ratio?The amount of reservable liabilities that commercial banks must hold in reserve and refrain from lending or investing is known as the reserve ratio. This standard is established by the central bank of the nation—in the US, the Federal Reserve. It is often referred to as the "cash reserve ratio." The minimal amount of reserves that a bank must keep is known as the reserve requirement, which is occasionally referred to as the reserve ratio. The reserve ratio is outlined in Federal Reserve Board Regulation D. Under Regulation D, which established a set of universal reserve requirements for all depository institutions operating transaction accounts, banks are required to make recurring reports to the Federal Reserve.
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Which of the following is the calculation to compute the predetermined variable manufacturing overhead rate
Manufacturing Variables Estimated as a Whole Calculating the specified variable manufacturing overhead rate is done by dividing the overhead by the whole expected amount of the allocation base.
How are production expenses calculated?You must first calculate your company's manufacturing costs. Then add them together or multiply the overhead expense per unit by the number of units you generate. To acquire a percentage, divide by your monthly sales and multiply the result by 100.
What kinds of production costs are there?The five primary kinds of manufacturing overhead are indirect labor, indirect materials, consumables, and replacement parts, rent and utilities depreciation, and financial costs.
The cost of making a single unit of a good is referred to as an indirect cost for a reason.The fact that it might be challenging to link industrial overhead expenses to specific goods has led to the term "indirect costs" becoming popular. At a predetermined overhead absorption rate, these costs are reflected in the finished product.
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the purpose of the accounting process is to provide financial information about: group of answer choices sole proprietorships. small businesses. large corporations. all of these answers are correct.
The purpose of the accounting process is to provide financial information about all of these answers are correct that is for a sole proprietorships, small businesses, and large corporations. So option d. is correct.
Regardless of the size of a business, accounting is a necessary function for decision-making, cost planning, and measurement of economic performance. Two important types of accounting for businesses are managerial accounting and cost accounting. Managerial accounting helps management teams make business decisions, while cost accounting helps business owners decide how much a product should cost.
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the owner of a neighborhood hardware store has decided to sell a set of three padlocks for $5. he hopes the below-cost price for the locks will attract current and new customers who will also buy regularly priced items. the owner is encouraging store patronage through:
owner is encouraging store patronage through leader pricing who attract current and new customers .
What sort of pricing is a leader?A unique pricing technique used to draw clients is called leader pricing. The main tool employed in the strategy is lowering price points and cutting profit margins in order to launch brands and increase interest in the operation or manufacture of a specific product. A well-known corporation that used a loss leader pricing approach in its business model is Gillette. Years ago, Gillette used an innovative marketing technique to dominate the razor blade market by offering their mechanical razors for a significant discount to attract new customers.
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which two factors are key in making the global environment of business so important that it encompasses all the other environmental influences?
The local environment refers to those elements that have an impact on a firm inside its operating nation or region. The general environment and task environments are the two primary elements of the global environment.
What are the factors affecting global business environment?The environment in several independent nations, with variables external to the organization's home environment that affect decisions about resource utilization and organizational capabilities, is what is meant by the term "global business environment." The significance of doing business overseas cannot be emphasised, even if your company doesn't manufacture or sell goods abroad. From a strategic aspect, it can help you evaluate new business prospects, make defensible choices, and acquire a comprehensive perspective of global competitiveness. The global environment is made up of extensive, global environmental variables that are outside the purview or control of any community or country: Atomic bomb explosion; photo courtesy of James Vaughan through Creative Commons. climatic change.To learn more about global business environment refer to:
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graff, inc., has sales of $49,800, costs of $23,700, depreciation expense of $2,300, and interest expense of $1,800. if the tax rate is 22 percent, what is the operating cash flow, or ocf?
The operating cash flow of Graff, Incorporated is $19,460
What is operating cash flow?The amount of cash generated by a company's ongoing activities is known as its operating cash flow, which is calculated by adding its depreciation expense to net income. This is done since depreciation is not a direct cash outflow, thus it must be added.Sales less costs of products sold, depreciation, interest, and tax expense, which is deducted at a rate of 22%, equals net income.
In essence, our net income can be determined using the below formula:
net income=(sales-costs-depreciation expense-interest expense)*(1-tax rate)
sales=$49,800
costs=$23,700
depreciation expense=$2,300
interest expense=$1,800
tax rate =22%
net income=($49,800-$23,700-$2,300-$1,800)*(1-22%)
net income=$17,160
operating cash flow=net income+ depreciation expense
operating cash flow=$17,160+$2,300
operating cash flow=$19,460
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You plan to open a kite shop in a beach resort town. You will sell custom-made kites as well as kites you plan to import. You know that you will have customers during the spring and summer when families are visiting the beach, but you are looking for ways to increase sales during the off-season when there are very few visitors to the area. Describe ways that you can distribute your products that will increase sales during the off-season.
Publish specials for the off-season. Existing customers can be upsold and cross-sold to. Promote discounts for early payments. Organize a gift or competition. Try to receive recommendations. Build up your internet reviews.
What are four general strategies for boosting sales?More customers are needed. Increase the size of the typical transaction. The number of transactions per customer should be increased. Price increase.
Imagine that you are the owner of a restaurant and that you want to enhance the money that your establishment generates. How to use these tactics are as follows:
You are attempting to increase the number of customers by getting more individuals to enter the store. This tactic is rather simple: more customers will result in more tabs, which will increase revenue (presuming the average transaction size remains the same).
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Some economists believe that the US. economy as a whole can be modeled with the following production function, called the Cobb-Douglas production function: Y=AK^1/3 L^2/3
where Y is the amount of output K is the amount of capital, L is the amount of labor, and A is a parameter that measures the state of technology. For this production function, the marginal product of labor is MPL = (2/3) A(K/L)^1/3. Suppose that the price of output P is 2, A is 3, K is 1,000,000, and L is 1/100. The labor market is competitive, so labor is paid the value of its marginal product.
a. Calculate the amount of output produced Y and the dollar value of output PY.
b. Calculate the wage W and the real wage W/P. (Note: The wage is labor compensation measured in dollars, whereas the real wage is labor compensation measured in units of output)
The output's monetary value, PY = P * Y, or 29317 * 2 = $58634, The wage W and the real wage W/P are equal to real wage = W/P = 40/2 = $20. Unlike the actual wage, which is determined by measuring worker remuneration in units of
What is an example of a marginal product?With their existing manufacturing inputs, a fledgling company is now able to produce 2,000 units each month. They acquire a $100,000 investment after a successful pitch to investors, enabling them to boost manufacturing to 8,000 units per month.
Are prices marginal goods?The marginal physical product must be multiplied by either the average revenue or the product's price to get the value of the marginal product. More specifically, the VMP calculation formula is as follows: physical object
a) output produced, Y = 3 * (1,000,000)0.33 (1000)0.67
Y = 3 * 95.499* 102.329 Y = 29316.9515 = 29317 units (approx.).
PY = P * Y = 29317 * 2 = $58634
b) The dollar value of output, PY = P * Y = 29317 * 2 = $58634
MPL = (2/3) A(K/L)1/3 = (2/3) * 3 * (1,000,000/1000)1/3 = 20
Wage W = P* MPL = 2*20 = $40
Real wage = W/P = 40/2 = $20
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jones company makes every effort to consistently meet the expectations of all of its customers. it is clear that jones company is focused on:
jones company makes every effort to consistently meet the expectations of all of its customers. it is clear that jones company is focused on - Customer Satisfaction
Customer Satisfaction is a term consistently used in promoting. it's miles a proportion of how items and administrations gave the guide of an organization meet or outperform buyer assumptions.
Consumer Loyalty (CSAT) is the level of ways appropriately a company's items, contributions, and conventional supporter experience meet client assumptions. It mirrors your business' wellbeing through showing how well your administrations or items resound with customers.
The significance of consumer loyalty couldn't possibly be more significant. there is a quick connection be tween's the way cheerful clients and kind of money an undertaking makes. Your buyer fulfillment score (CSAT) impacts rehash buy rates and client dependability, informal exchange references, and empowers you to tell business venture choices
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when a consumer approves of a business and purchases products from it, what is the consumer demonstrating?
When a consumer approves of a business and purchases products from it will be consumer acceptance.
When buying a new product, buyers were primarily motivated by seven fundamental variables. Along with security, FOMO, identity as well as belonging, pricing, peer recommendations, obligation, anxiety, price, and enjoyment, our motivations also include necessity and convenience.
Usually, it's a display as well as a presentation that highlights the qualities of a good or service that clients might be interested in learning about before they buy it. While some product demonstrations take place in front of a live audience, others were online presentations that also are supported by visual designs and recorded recordings.
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a 450-unit hotel is trying to determine their daily rates. from experience, the hotel manager knows that all rooms are typically occupied when the daily room rate is $89. market research indicates that for every increase of x dollars in the daily room rate, there will be x rooms vacant. each occupied room costs $22 per day to service and maintain. what should the hotel charge per day in order to maximize profit?
To maximize profit hotel charge 50 rs per/day
What is market research?Market research is the process of gathering and analyzing information about a market, product, or service in order to gain insight into customers, competitors, and the market itself.Market research allows companies to understand the demand and viability of their product and to see how it might perform in the real world. Market research is conducted either through primary information or secondary information, both providing unique insights into a company's offeringMarket research provides critical information about your market and your business landscape. It can tell you how your company is perceived by the target customers and clients you want to reach.To learn more about market research refers to:
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To determine a product selling price based on the total cost method, management should include: A Total production and nonproduction costs plus a markup. B Total nonproduction costs plus a markup. C Only a markup. D Total production and nonproduction costs only. E Total production costs plus a markup.
The management should include Total production and non-production costs plus a markup.
Option A is correct.
Pricing for sale:The price at which an outsider buys each unit of a product is known as the selling price. It is typically decided in accordance with the policy of the company. It depends on how much the market wants the product.
Cost total:The amount spent on making a particular product is known as the total cost. It includes costs that are not related to production as well. It is calculated to determine the product's selling price.
Method for total cost:One approach to determining a product's selling price is the total cost method. The selling price is determined by adding the markup to the product's total production costs.
Cost of production:
The costs associated with producing a product are known as production costs. These are directly related to the activity of production. Direct materials, direct labor, and overhead costs are examples of these.
Costs beyond production:The period costs, also known as non-production costs, are incurred during a specific time period. The production process is indirectly attributed to these. These are not the same as production costs.
Markup:A product's markup is the amount or percentage of profit from sales. This fixed percentage or amount varies depending on the product and company. Based on the company's policies, this is set in stone.
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