Objective, constraints, alternatives, and linearity are the four requirements of a linear programming problem (D).
Linear programming is a mathematical modeling technique which utilize a linear function t maximized or minimized subjects to various constraints. Linear programming is believed to be an usefull tool in guiding quantitative decision in business planniing and decision making.
Linear programming problems (LPP) are problems that could be analyzed by linear programming method. However there are 4 pillars that a problem must have to be able to use linear programming method, suc:
Linearity relationship between variablesClear objective functionNon-negative Constraints or restrictionAlternative courses of actionVariables are options or candidates that are competing for sharing the given limited resources. The relationship between the variables should be linear.
A well-defined objective function is important in linear programming. The objective function is needed to decide which the best scenario to choose.
Limitation or constraints of the available resources should be present in a linear programming problem. These constraints must be represented in terms of variables. These contraints are important because the aims of linear programming is to satisfy these constraints.
Alternative courses of action has to be present to allows linear programming to make the best selection between various combinations of the productive factors.
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you have the following time and cost information for use in a time-cost cpm scheduling model. activitynormal timecrash timenormal costcrash costa32 $400 $600 b53 $600 $1200 c41 $300 $1500 what are the three costs per unit of time to expedite each activity?multiple choicea
e. A = $ 200, B = $ 300, C = $ 400
Cost per unit of time = (Crash cost - Normal cost)/(Normal time - Crash time)
A = (600-400)/(3-2) = 200
B = (1200-600)/(5-3) = 300
C = (1500-300)/ (4-1) = 400
32. b. Total time is 12 days, total cost is $ 1700
Alternative paths in the network are following:
A-B-D-E, duration = 3+4+3+2 = 12
A-C-D-E, duration = 3+1+3+2 = 9
A-B-D-E is the longest path, hence it is the critical path. and project duration is 12 days.
Total normal cost = 200+300+200+500+500 = $ 1700
33. d. Total time is 11 days, total cost is $ 1850
To reduce the project duration, critical path activity with the lowest crash cost per unit time needs to be crashed. That activity is D with crash cost = (550-500)/(3-2) = 50
Normal cost = 200+300+300+500+500 = 1800
Total cost = Normal cost + Crash cost = = 1800+50 = $ 1850
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Leo Ink is a company that produces stationery items. In order to remedy the current low-profit situation, the company plans to hire personnel and form a brand-new marketing team. The labor market proves to have a shortage of qualified marketing personnel. In this situation, which of the following strategies could Leo Ink follow to make profits? Increase the salary offered to hire the needed marketing personnel Increase its scale of production instead of hiring people O Branch into the production of other itens O Continue in the present state
In the current low-profit situation The strategies could Leo Ink follow to make profit is Expand your business to produce other items. Option C is correct
If you choose a selling price for a product that isn't much higher than its cost, you have a limited profit margin. If your company's profit margin is low, you usually sell products of ordinary quality and compete in a market with fierce competition. Low profitability is typically caused by high operational costs, low income, or, most often, a combination of the two. Excessive costs are frequently caused by ineffective operational procedures, which lead to insufficient vehicle utilization, an overly large fleet, and an overabundance of staff in developing nations.
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the split-off point is the point at which individual products resulting from a joint process can be identified. true orflase
The split-off point is the point at which individual products resulting from a joint process can be identified. FALSE
A product is an object, or device, or service made to be had for customer use as of the consumer call for; it's miles some thing that may be supplied to a marketplace to fulfill the desire or want of a customer.
A product is any item or service you promote to serve a patron's need or need. They can be bodily or virtual. physical merchandise encompass long lasting items (like vehicles, furnishings, and computer systems) and nondurable items (like food and drinks).
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Costs of Acquiring Fixed Assets
Melinda Stoffers owns and operates ABC Print Co. During February, ABC incurred the following costs in acquiring two printing presses. One printing press was new, and the other was purchased from a business that recently filed for bankruptcy.
a. Indicate which costs incurred in acquiring the new printing press (1-6 below) should be debited to the asset account.
The costs incurred in acquiring new printing press should be debited to asset account is true.
What is an incurred cost?An expense that a business assumes as a result of using an asset or making some other profit from it is known as an incurred cost. The principle that the accrual accounting concept specifies for expense recognition serves as the foundation for the idea of an incurred cost. According to the accrual accounting's expenditure recognition concept, expenses and receipts should be recorded as soon as they are incurred rather than when money is transferred. The accrual accounting technique requires recording the expense as soon as the asset is used up, even if the actual invoice from the supplier has not yet arrived. Incurred costs should be noted on the income statement's debit side because they are an expense for the business.
1. Fee paid to the factory representative for installation - Yes
2. Freight -Yes
3. Insurance while in transit-Yes
4. New parts to replace those damaged in the unloading- Yes
5. Sales tax on purchase price-Yes
6. Special foundation- Yes
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as the marginal propensity to consume (mpc) decreases, the spending multiplier group of answer choices increases. decreases. remains constant. becomes indefinable.
As the marginal propensity to consume (mpc) decreases, the spending multiplier increases.
The marginal propensity to consume is a metric that quantifies precipitated intake, the concept that the growth in non-public client spending happens with an growth in disposable income. the proportion of disposable earnings which individuals spend on consumption is called propensity to consume.
The marginal propensity to consume (MPC) is the turn facet of MPS. MPC helps to quantify the relationship between income and intake. MPC is the component of each more dollar of a family's earnings this is fed on or spent.
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jupiter company signed a one-year $47,000 note payable at 8% interest on may 1, 2016. if jupiter company only adjusts its accounts once a year at year-end, how much interest expense was accrued on december 31, 2016
By using Interest Expense = Principal x Rate x Time we can calculate interest expense. if jupiter company only adjusts its accounts once a year at year-end, then $22,560 interest expense was accrued on december 31, 2016
An activity price is the price incurred by an entity for borrowed funds. Interest rate is a non-operating price shown on the profits statement.
What is the formula for activity expense?The simple activity rate formula is Interest Expense = Principal x Rate x Time.
For example, if a enterprise pays $100 in interest on a loan and earns $10 in hobby from a savings account, then there are more prices than income and the line object ought to be “Interest Expense – Net” for $90.
Interest is observed in the income statement, however can additionally be calculated the use of a debt schedule. The time table outlines all the essential pieces of debt a organization has on its stability sheet, and the balances on each period opening (as shown above). This balance is increased with the aid of the debt's activity charge to find the expense.
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https://brainly.com/question/16134508#SPJ4would some consumers be willing to accept some risk from using a product if it means the product is cheaper? why?
Some consumers would be willing to accept some risk form using a product if it mean the product is cheaper, because they are implementing trade-off concept between safety and product price.
Trade-off explains that in order to gain one thing, we have to accept of having less or even loss of something else.
In economics, trade-off is also known as opportunity cost. Opportunity cost is the cost of opportunity we missed when we decide to purchase or purse another product.
From the perspective of the uttainable triangle, we know that a product could only have 2 out of the triangle sides--speed, price, quality. You will not be able to meet all 3 aspects in one product. This theory is align with trade-off concept.
If we look back at the case, some consumers may prefer to have cheaper product even if the product's quaility is poor. Those customers are already aware with their decision's side effect and concequences, in this case is in form of product risks.
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Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the:
factory overhead cost volume variance.
Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the: factory overhead cost volume variance.
Similar to how direct materials or direct labor are scrutinized for deviations from norms, factory overhead costs are likewise examined. Separating factory overhead costs into their fixed and variable components is the first step.
A controllable variance and a volume variance can be distinguished from factory overhead variances.
The difference between the actual variable overhead expenses and the budgeted variable overhead for real production is known as the variable factory overhead controlled variation.
The planned fixed overhead at normal capacity and the standard fixed overhead for the actual units produced make up the fixed factory overhead volume variance.
Fixed factory overhead volume variance = (standard hours normal capacity – standard hours for actual units produced) x fixed factory overhead rate
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Which of the following represents an aggressive approach to demand management in the service
sector when demand and capacity are not particularly well matched?
a. inexpensive rates for weekend phone calls
b. appointments
c. reservations
d. first-come, first-served
e. none of the above
Inexpensive rates for weekend phone calls represents an aggressive approach to demand management in the service sector when demand and capacity are not particularly well matched. So option a is correct option of the given statement.
Demand management: What does it mean?Planning technique called demand management. It is utilized by businesses to forecast and plan how to meet service and product demand. Connectivity between operations and marketing is improved via demand management. Customer demands, capacity, and strategy are better coordinated as a result.
What does demand management aim to achieve?In order to meet the market where it is, you must first understand the market and the demand chain. Only then can you build an operational strategy. You can develop project portfolios and use portfolio management to carry out your demand strategies after you have them.
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Mr. and Mrs. Eyre own residential rental property that they would like to dispose of in a nontaxable exchange. Which of the following would not qualify as like-kind property?a. Commercial office buildingb. Undeveloped landc. Warehouse used to store transportation equipmentd. All of the these qualify as like-kind property.
Commercial office building, Undeveloped land, and Warehouse used to store transportation equipment.
the device is a fashion label presently based in Los Angeles, California. initially launched in 1976 by using Christian Restoin, husband of former trend Paris Editor-in-chief Carine Roitfeld, the logo is presently carried in over 60 nations and six hundred retail doors, inclusive of two equipment retail shops.
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a client owns a $1,000 10-year bond. the coupon rate is 6%. the client acquired the bond 3 years ago at a discount. what is known about the interest rates 3 years ago?
The hobby price within the USA averaged five. forty-two percent from 1971 till 2022.
The coupon charge is the annual income an investor can anticipate receiving whilst protecting a particular bond. Its miles are constant when the bond is issued and is calculated by means of dividing the sum of the yearly coupon payments by the par value. on the time it's far purchased, a bond's yield to maturity and its coupon charge are equal.
In finance, a chit is the hobby fee received by means of a bondholder from the date of issuance till the date of maturity of a bond. Coupons are normally described in terms of the coupon price which is calculated by adding the sum of coupons paid per year and dividing it by means of the bond's face value.
The coupon rate is the interest price paid by a bond relative to its par or face price. For a hard and fast-charge bond, this may be equal to its complete adulthood.
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In the short run, a perfectly competitive firm will incur an economic loss but will continue to operate if certain conditions are met. Using a graph, explain what those conditions are. (2 points) 2. When total product is maximized, what is true about marginal product? Explain your answer by graphing both the total product curve and the marginal product curve.
If the price is higher than average variable cost and lower than average total cost, a perfectly competitive firm will suffer an economic loss but continue to generate the amount of output that maximizes profits in the short term.
Why would a company decide to make a loss in the near term?A competitive company may decide to operate at a loss in the near term (A) in order to recoup some of its fixed costs. Profits for a firm that shuts down are equal to minus the fixed cost because they still have to pay the fixed costs if they close.
How does the marginal product change when the total product is maximized?The marginal product is the variation in the total product brought on by the addition of a further unit of a variable factor. For output to be maximized, the marginal product must be zero. If the marginal product is smaller than zero, it is economical to increase output. If the marginal product is smaller than 0, production can be reduced profitably.
The maximum total product is reached when the marginal product reaches zero. In other words, marginal product begins to decline as total product reaches its highest value.
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During 2018, Noriko paid the following taxes related to her home:
Real Estate property taxes on residence (paid from escrow account)
$ 1,800
State personal property tax on her automobile (based on value)
600
Property taxes on land held for long-term appreciation 400
What amount can Noriko deduct as property taxes in calculating itemized deductions, assuming she was under the $10,000 limit for state and local taxes, for 2018?
$400.
$1,000.
$2,400.
$2,800.
$2,800.
$1,800 + $600 +$400 = $2,800
As the state personal property tax was based on the value of her vehicle, it is a tax and not a fee, and is allowable as a deduction. The Tax Cuts and Jobs Act (TCJA) of 2017 limited the deduction for income, real estate and other state and local taxes. Beginning in 2018, the limitation for the deductibility of all state and local taxes is $10,000 ($5,000 for MFS).
If Noriko is under the $10,000 cap for state and local taxes for 2018, she can deduct $2,800 in property taxes when calculating her itemized deduction. The right response in this case is option D.
Real estate that is held by a person, a business, or another sort of legal entity is subject to property tax. Real estate ad-valorem taxes, which are viewed as regressive taxes, are the most common type of property tax. It is computed by the local government in the area where the property is situated, and the owner is responsible for paying for it.
$1,800 in real estate property taxes for a home
Her car's state personal property tax is worth $600.
$400 in property taxes for a plot of land preserved for future value
Since the state's personal property tax was calculated based on the value of her car, it qualifies as a tax rather than a charge and can be deducted.
= $1,800 + $600 +$400
= $2,800
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the economic stimulus act of 2008 focused on , whereas the american recovery and reinvestment act of 2009 focused on. contractionary fiscal plicy; expansionay
Expansionary fiscal coverage occurs when the Congress acts to reduce tax fees or expand government spending, transferring the mixture demand curve to the right.
What was once the thought in the back of the Economic Stimulus Act of 2008?The regulation affords for tax rebates to low- and middle-income U.S. taxpayers, tax incentives to stimulate business investment, and an make bigger in the limits imposed on mortgages eligible for buy by using government-sponsored businesses (e.g. Fannie Mae and Freddie Mac).
What did the Economic Recovery and Reinvestment Act 2009 do?The Act is an awesome response to a disaster in contrast to any for the reason that the Great Depression, and includes measures to modernize our nation's infrastructure, beautify energy independence, increase academic opportunities, hold and enhance less expensive health care, grant tax relief, and shield these in biggest need.
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https://brainly.com/question/6583917#SPJ4what is the monopolist's profit at the profit-maximizing level of output? multiple choice $10,000 $0 $50,000 $80,000
Option (1) $10000 is the profit maximizing level of output.
Define profit maximization.In the field of economics, the word "profit maximizing" refers to the short- or long-term process by which a company selects the prices, input levels, and output levels that will result in the highest possible overall profit.
Profit is determined by the following formula:
Profit = Total Revenue - Total Cost.
As a result, when the first order is:
MR = MC
That is when Marginal Revenue is equal to Marginal Cost, and when the second order depends on the first order, a corporation maximizes profit. This concept differs from wealth maximization in terms of the time frame for turning a profit and the goals of the business.
A monopolist is a person, organization, or company that dominates and controls the market for a specific good or service. The monopolist has the power to set high prices because there are no substitute goods or services or competitors.
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A hiking boot’s profits are declining because new competition has entered the market, but its cost has also declined due to increased volume of production. What stage of the product development life cycle is the hiking boot in?.
In the maturity stage, income gradual down, indicating that the market has begun to reach saturation.
This is also one of the degrees of the product life cycle when pricing turns into competitive. This makes the profit margins thinner.
What are the features of maturity stage?The mature stage's main characteristic is that income volumes are nonetheless developing but at a slower rate. The nearer to the give up of the mature, the slower will be the growth in income volume. Competition for market share and customers is additionally greater intense.
What are examples of products in their maturity stage?Companies are all examples of groups in the maturity stage. They are properly known, trusted, and proceed to preserve a high market share in their industries.
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https://brainly.com/question/17738539#SPJ4Beryl enters into a contract with Clay for a guided tour of Deep Canyon. Clay represents that he is an experienced, knowledgeable guide, when in reality he has never been in the canyon. Most likely, Beryla. could exert duress to obtain a new guide.b. can rescind the deal based on fraudulent misrepresentation.c. might recover damages for the mistake.d. must comply with the contract because the representation is an opinion.
Option b is correct. Most likely, Beryla can rescind the contract based on fraudulent misrepresentation.
All parties to the agreement must have "contractual capacity" in order for it to be enforceable. Legal jargon for the minimal mental capacity needed to enter into an agreement is "contractual capacity." In other words, people who lack the legal ability to enter into a contract are deemed to be incompetent, and they have the right to "void," or set aside, the agreement.
Three groups of people are recognized by the law as lacking the competence to enter into a contract: minors, people with psychological disorders, and those who are intoxicated. If any member of these categories signs a contract, they might view it as "voidable." This safeguards the party lacking capacity from being pressured into a deal that takes advantage of his or her lack of business acumen.
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consider the $400,000 estimated salvage value. is it appropriate to discount it at the same rate as the other cash flows? what about the other cash flows - are they all equally risky?
When an asset has a salvage value of $400,000, it is not appropriate to discount it at the same rate as the other cash flows, because its discounting is proportionate throughout the periods of its life. Other cash flows, on the other hand, are higher in risks.
Salvage value can be referred to or considered as the value that determines the value of an asset at the end of a particular accounting period. This salvage value is the difference between the actual costs and the amount of depreciation charged over the asset.
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constructing plastic containers produces air pollutants. therefore, in the market for plastic containers, part 2 a. the marginal social cost curve is above and to the right of the demand curve. b. there is a gap between quantity supplied and quantity demanded in equilibrium. c. the marginal social cost curve is above and to the left of the supply curve. d. the marginal social cost curve is below and to the right of the supply curve. e. the marginal social cost curve is below and to the left of the demand curve.
Due to the release of air pollutants during the production of plastic cotainers, the following option will take place in the market for the containers.
C. the marginal social cost curve is above and to the left of the supply curve.
What is a supply curve?A supply curve is a graphical representation of the relationship between the price of a commodity or service and the quantity of that good or service available at any given time. The price is shown on the vertical axis on the left side of the supply curve graph, and the quantity of items is shown on the horizontal axis at the bottom. The supply schedule, a table stating the quantity supplied at each price, is where the data used to draw the supply curve is taken from.
The amount of a resource that businesses, producers, workers, providers of financial assets, or other economic agents are willing and able to offer to the market or to a specific person is known as supply in economics.
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ordering cost refers to the expense of placing an order for additional inventory and does not include the cost or expense of the product itself.
Given the question, this statement can be regarded as True. ordering cost is the cost associated with placing a order for additional inventory, excluding the cost of shipping.
How else would you define cost?
A cost is the value of money that was spent on the making or providing of a service or product and is now unavailable for use in accountancy, retailing, research, or accounting. In the business world, the cost is indeed the total amount paid to acquire something, hence the price might be tied to the acquisition.
Do you say "costs" or "costs"?
The word "expense" in the single form refers to the entire group, whereas "costs" refers to each individual member of the group.
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what is the difference btween nomura and rcb estimate for the janese yen/euro currency pair fo rthe end of q! 2018
For the Japanese yen, there is a 40 yen difference between the nomura and rcb estimates.
Is the name Janis gender neutral?Janis is a male name with Hebrew roots that means "God is gracious." A fresh spin on the conventional Jane for girls is Janis. The Greek boy's name Yannis, which is equivalent to John in English, is similar to Janis.
what type of Japanese is a type of language, ?The Ryukyuan languages being spoken in Ryukyu Islands and Japanese are both members of the Mythological language family. Japanese is frequently referred to as a language isolation since these closely related tongues are frequently regarded as dialects of same tongue.
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you are starting an ice-making company in phoenix. when writing your product or service description, what should you include? check all that apply.
A proposal is presented as a business plan. A comprehensive business plan should be written if you're willing to start a firm.
What does the term "company" mean?
A group of people can form a legal entity called a corporation to run and manage a commercial or industrial business.Based on the corporate legislation of its jurisdiction, a corporation may be set up in a variety of ways for tax and current burden reasons.
How does a business operate?
A "business" is a legal entity that exists apart from its owners, operators, executives, workers, and agents. The ability to own and sell property, bring legal action and be accused, and sign contracts are all rights shared by businesses and individuals.
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you have accepted a loan in the amount of $15,000 for your new car. you have agreed to pay the loan back in four years. what is your monthly payment if you agree to pay an interest rate of 9% compounding monthly? solve this problem for i
Your monthly payment on the loan for the new car, given the interest rate, and the compounding period is $ 373. 28
How to find the monthly payment ?The monthly payment will be an annuity because it is constant and periodic.
The interest rate on this payment needs to be converted to a monthly figure as :
= 9 % / 12
= 0. 75 %
The number of periods is :
= 4 years x 12 months per year
= 48 months
The monthly payment is :
= Loan amount / Present value interest factor of annuity, 48 periods, 0.75%
= 15, 000 / 40.18478188518
= $ 373. 28
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when a borrower makes a payment on an installment loan, a portion of the amount paid reduces the principal balance of the note payable. this statement isgroup startstrue or
When a borrower makes a payment on an installment loan, a portion of the amount paid reduces the principal balance of the note payable. This statement is TRUE.
What is an installment loan?
Installment loans, which let you borrow money and repay it in equal monthly installments with a fixed interest rate, are a useful tool in your personal finance kit if you want to pay off large debts in discrete, manageable amounts.
The most typical sort of installment loan is a personal loan, but there are other types as well, like no credit check loans, mortgages, and auto loans.
Individuals who qualify for installment loans are able to borrow a fixed sum of money that is disbursed in one lump payment and is repayable over time. These loans often have set interest rates and regular monthly payments that are the same every month. Each monthly payment is divided into two equal halves that are applied to the principal borrowed and the loan's interest.
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question 5 you run a colleague test on your presentation before getting in front of an audience. your coworker asks a question about a section of your analysis, but addressing their concern would mean adding information you didn’t plan to include. how should you proceed with building your presentation?
Maintain interest and discuss potential repercussions. Even if you have to pretend to be calm, inquire about what took place, and offer any assistance that may be required.
You continually provide the employee with opportunities to grow. Also, be sure to explain what happened when the instructions weren't followed.
If a coworker wasn't putting in their fair share of effort, what would you do?Approach them professionally, but do not immediately approach management. Instead, behave professionally and have an open conversation with the colleague who offended you. Inform them that your performance at work is suffering as a result of their work habits. Also, if you're angry, don't approach them.
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rocky gap furniture employs 20 workers working eight hours each to produce 50 rocking chairs. what is the productivity of these workers?
0.3125 is the productivity of these workers if rocky gap furniture employs 20 workers working eight hours each to produce 50 rocking chairs.
How would you characterize workplace productivity?
How quickly someone completes a task is a measure of their productivity. It can be defined as the speed at which a business or nation produces goods and services (output), typically assessed in relation to the amounts of inputs (labor, capital, energy, or other resources) used to produce those products and services.
Productivity is equal to [50/(20*8)]
= (50 / 160)
= 0.3125
These employees' productivity is 0.3125.
Therefore, 0.3125 is the productivity of these workers.
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which of the following inputs contains the basic information that will be used by an evaluation body for selecting one or more successful bidders?
The Seller Proposal was one of the inputs since it contained the fundamental data that an evaluation body would utilise to choose one or more winning bidders.
What is basic information?Basic Information refers to Personal Data about a Data Subject, such as their name, address, and means of getting in touch with them. It also includes copies and records of those contacts, messages, and interactions. Include the fundamentals of your company, such as its history, name, address, organisational structure, management, number of employees, and operating hours. To give the reader context, it can be useful to group your company under a particular industry.
What type of information is used in business?General surveys, data, articles, books, references, search engines, and internal records are all sources of business information that a company can use to inform its strategy, execution, and assessment of its operations. These details are also provided by acquaintances, clients, coworkers, and suppliers. Daily newspapers, financial, trade, and association periodicals, databases, government statistics, directories, technical manuals, and a wide range of other sources are examples of published sources. Firm information is essentially any information that aids a business in understanding its surroundings because "information" is defined more by context than by content.
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Diapers is a product category in the maturity stage of its product life cycle. This means that the manufacturers of diapers:
are most interested in building product awareness
want to create primary demand for the product
have increased trade allowances
are creating product line extensions
This means that the manufacturers of diapers have increased trade allowances. In the maturity stage, income slow down, indicating that the market has begun to attain saturation.
This is additionally one of the stages of the product life cycle when pricing becomes competitive. This makes the profit margins thinner.
At which stage in the product life cycle do sales experience their most fast increase?The standard attribute of a successful new product is a gradual upward jostle in its sales curve all through the market improvement stage. At some factor in this upward shove a marked extend in consumer demand happens and sales take off. The boom is on. This is the opening of Stage 2—the market boom stage.
The central thrust of market messaging and promotion at some point of this stage is “This company is the best!” Pricing additionally will become more aggressive and should be adjusted to align with the differentiation strategy. Often in the growth phase the marketer must pay tremendous attention to distribution.
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https://brainly.com/question/29099285#SPJ4rolex is a luxury brand of watches, and in order to promote its reputation as a first-rate corporation it sponsors the metropolitan opera, a world renowned arts institution. the goal of rolex is to showcase its company image. this is an example of .
The goal of rolex is to showcase its company image , this is an example of institutional advertising.
What is institutional advertising?
Institutional advertising can be described as promotional activities aimed at enhancing brand reputation, building a positive brand image, or encouraging support for a particular brand or organization. Institutional advertising is a strategy to promote an organization and all of its products. Sometimes referred to as corporate advertising, this strategy typically focuses on increasing the overall exposure of a company's brand, image and core message.
What are the goals of agency advertising?Agency advertising focuses on promoting a company's image in order to improve its reputation with its customer base. The primary purpose of institutional advertising is not to drive sales, but to create and disseminate a positive image and generate goodwill for the company and industry.
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in monopolistic competition, once you find the profit-maximizing quantity, how do you find the profit-maximizing price? multiple choice question. you read the corresponding price from the marginal cost curve. you read the corresponding price from the average total cost curve. you read the corresponding price from the marginal revenue curve. you read the corresponding price from the demand curve.
In monopolistic competition, after the profit-maximizing quantity is determined, the profit-maximizing price is determined by reading the equivalent price from the demand curve. Thus, the correct choice is you read the corresponding price from the demand curve.
What is monopolistic competition?Monopolistic competition is a sort of imperfect competition in which several producers compete against one another yet sell items that differ from one another and hence are not ideal replacements. Monopolistic competition occurs when a firm accepts the prices charged by its competitors as given and disregards the influence of its own pricing on the prices of other companies.
Monopolistic competition at its best:
1. Grocery stores: Grocery stores operate in a monopolistic market since there are numerous enterprises selling many of the same commodities but with different branding and marketing.
2. Hotels: A good illustration of monopolistic competition is the hotel industry.
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