Anne Teek works full time as the manager of her used furniture store in which she has invested $40,000. Last year, her total rev

enues were $90,000 and her costs were $60,000 for merchandise, gas, electricity, and other explicit-cost items. Ms. Teek pays herself a "competitive" salary of $30,000 per year. An economist would consider her profits for the year to be

Business

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Toyota and its suppliers have a relationship in which Toyota encourages suppliers to modernize their facilities and provides the

Mariulka [3825]

Answer:

c. strategic network.

Explanation:

The relationship detailed in the question exemplifies a strategic network. This concept involves the organized collaboration among independent firms, fostering enduring business relationships, communication, and cooperation among the network participants, which is precisely the situation between Toyota and its suppliers.

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A movie studio has some costs it incurs even if it produces no movies at all in a given year. Think of these as the costs of hav

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Explanation:

Part 1: True, the information given about the total costs incurred by the movie studio from last year shows that after the adjustments for the differences in totals

3rd movie cost - 2nd = 132-84 = 48 million

Thus, the variable costs must be at least $47 million but less than $255 million as well.

Part 2: False, the marginal cost for producing the first movie was $45 million, while the studio produced three films during that period.

In conclusion, the variable costs for all three films last year were

45 x 3 = 135 million

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A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the pri

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Answer:

(b) macaroni is categorized as an inferior good, and the price elasticity of supply is zero.

Explanation:

An increase in income by 10 percent results in a 15% reduction in the demand for macaroni and cheese without any change in price. This suggests that macaroni is indeed an inferior good with zero price elasticity of supply.

Inferior goods experience lower demand as incomes rise, supported by the observation that ‘’A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni demanded’’.

In terms of price elasticity of supply, a value of zero indicates that the supply amount remains unchanged regardless of price fluctuations: the supply is "fixed". The original scenario states there was ''no change in the price of macaroni,'' indicating that the elasticity of supply in this situation is zero.

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n important consideration in the selection of a strategy is the ability of each alternative to satisfy agreed-upon objectives wi

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Response: the VRIO framework

Clarification:

VRIO represents value, rarity, imitability, and organization. These four components are utilized to assess if a business possesses a competitive edge over other firms

It is important to highlight that the VRIO framework serves as an internal instrument for organizations.

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