Answer: To optimize profit, the production will entail: 400 luxury units and no standard ones. Explanation: For luxury items, raw material and labor yield higher profitability. Thus, maximizing luxury output becomes the focus, utilizing all available labor hours while ensuring no production for standard due to resource constraints.
Answer:The marginal propensity to consume (MPC) is 0.65
The multiplier or k = 2.85714 rounded to 2.86
Explanation:
The MPC pertains to the fraction of additional disposable income that consumers choose to spend. It is used to gauge the consumption increase driven by rising income.
MPC can be calculated as follows,
MPC = Change in consumption / change in income
MPC = 0.65 / 1
MPC = 0.65
To derive the multiplier, we apply this formula,
Multiplier or k = 1 / (1 - MPC)
k = 1 / (1 - 0.65)
k = 2.85714 rounded to 2.86
A. $1,737.82 Explanation: Profit is calculated as revenue minus cost. As this is a quadratic equation, the maximum profit is determined as the vertex of the function: -b/2a = -665.75/(2*(-11.3)) = -665.75/-22.6 = 29.46. At this value, the profit formula reaches its peak yielding approximately 1737.81992.
Net worth is calculated as total assets minus total liabilities.
The total assets are
325,000 + 750 + 15,000 + 8,000 + 2,100
which equals 350,850.
Concerning total liabilities, we calculate
245,000 + 9,000
for 254,000.
Thus, net worth is evaluated as
350,850 - 254,000
resulting in 96,850.
I hope this helps!
Answer:
Upon completion of a Marketing Course, I should possess the following promotional abilities:
- Innovation Skills: A marketing professional is expected to think outside the box, stimulate creativity within the business, and devise unique methods to capture market attention and convert that interest into support.
- Market Development Skills: One should also develop the ability to recognize and express hidden customer needs (even before the customers themselves realize them), as well as identify socioeconomic trends and technological advances that present opportunities for the business and its clientele.
- Pricing Technology: Pricing combines elements of art and science. It encompasses aspects of accounting, economics, and psychology. Marketing primarily addresses the economics and psychological components. With this knowledge, one can understand buyers' mindsets and influence their purchasing decisions.
Cheers!
