Explain the following quotations; 1. " Greater production is not tantamount to greater profit" 2. "Higher selling price does not equate to higher profit"!
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15. Explain the following quotations;
1. " Greater production is not tantamount to greater profit"
2. "Higher selling price does not equate to higher profit"!
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- key economics of a retail market (mall) in new york ? explain in 2 paragraph7 With the aid of a diagram, explain the profit maximising rule and explain four reasons why firms aim to profit maximise. Why might profit maximisation not be possible? (At least three developed points) What other business objective, besides profit maximisation may firms have and why might this be the case? Use a diagram and develop at least three pointsWhat term would an economist use to describe what happens when a shopper gets in good deal on a product?
- 1) The most important goal of the firm is to? A) maximize its sales volume. B) maximize its revenues. C) maximize its profits. D) minimize its costs.48. Whenever there is an improvement in the technology, the supply of the products using that technology will__________. a. Decrease b. None of these. c. Remain the same d. Increase1. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables. 2. What is marketing? 3. Explain the concepts of value chain and supply chain?
- 9 The cereal has only two listed ingredients: wheat and a preservative. The retail price is C$4.50 for 400 grams. It is interesting to note that at C$10/bu for wheat, there is about a dime’s worth of wheat in the bag. The remaining C$4.40 per 400 grams covers all the returns, including to the grocer, associated with all the value-added activity occurring between the farm gate and the final consumer. Provide a clear explanation of how puffed wheat cereal is an imported product in a wheat exporting regionOutput Quantity (Milk in Liters) Total Revenue ( in Rupees) Total cost ( in Rupees) 0 0 30 1 80 50 2 160 80 3 240 120 4 320 170 5 400 230 6 480 300 7 560 380 8 640 470 Calculate Price, Average Revenue, Marginal revenue. Explain the conditions under which these values remain the same? Calculate Profit, Marginal cost and change in Profit. What output quantity of milk maximizes profit for Farm Fresh Diary? iii. Graph MC and MR curves of Farm fresh Diary. What are the rules of Profit Maximization suggested by this graph? Suppose a tax of Rs.20 is imposed and government fixes price of milk at Rs.80 a liter. Then what should be strategy of Farm Fresh Diary?Explain about this graph related to price and quality of Pepsi Industry and the quantity. A, B, C, D indicates?please, I need explanation
- 4) What is total cost at the profit-maximizing quantity?5) What is the profit at the profit-maximizing quantity?6) What is total variable cost at the profit-maximizing quantity?15. In the market for gold jewelry, products come in a range of designs, styles, and levels of quality. Which of the characteristics of a competitive market is violated in the jewelry market? What does this imply for consumers’ willingness to buy from different producers?1. (a) Complete the table below given that each additional unit of output costs 100.(b) At what level of quantity produced does profit become a maximum? What is the relationship between marginal revenue and marginal cost at the quantity where profit is maximized? Explain. (c) If the producer continues to increase output as long as total revenue exceeds total cost, what will be the profit result?
