what tools and techniques are available to improve a firm's profits?

Q: Explain various markets and how they work to your friend so your friend will be able to run the…

A: Mainly there are 4 types of market structures. These are:  Perfect Competition(PC) is the structure…

Q: How to Maximize Profits.

A: Profit(π) is Total Revenue(TR) minus Total Cost(TR). TR is price(P) times the quantity(Q). TC is the…

Q: In which stage of the product life cycle would we expect the most money to be invested in…

A:

Q: What is the goal of a firm?

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: Explain why clear understanding of the environment within which it operates is important for…

A: Business: The organization or an individual engaged in commercial activities with the aim of earning…

Q: Why More Sales Don't Always Mean More Profit?

A: More Sales Don't Always Mean More Profit because: Sometimes to increase the sales firms cut down the…

Q: What happens to the value of resources when losses are present? If a firm making losses goes out of…

A: The value of resources decreases when the firms make losses as it would mean that the revenue earned…

Q: Why do economists believe that economic profit is the more accurate measure of a business success?…

A: Accounting profit only considers the cost that has actually happened, but economic profit considers…

Q: Does segmentation increase profits?

A: Market segmentation makes easier for companies to increase their sales. Some market segments might…

Q: Few sentences on the response please. Imagine you own your own business. Based on what you learned…

A: The profit of the market induced new firms to enter the market while the continuous entry of new…

Q: Many firms in the United States file for bankruptcy every year, yet they still continue operating.…

A: The costs of production include both the fixed costs as well as the variable costs. The fixed costs…

Q: Why would a profitable for-profit organization choose to exit a line of business

A: A for-profit firm or organization is described as an entity that mainly generates profit more than…

Q: Why is it important for companies to decide on their corecompetencies before choosing an…

A: Core competency is an association's characterizing quality, giving the establishment from which the…

Q: Not-for-Profit organizations has the same establishments as business, but their objectives are not…

A: Since you have asked multiple questions, we will solve the first question for you. If youwant any…

Q: What is the difference between Economic Profit and Accounting profit?

A: Explicit Cost is the cost paid to factors of production that are hired from outsiders. Implicit Cost…

Q: Draw the cost-volume-profit diagram?

A: The cost-volume-profit analysis implies the relationship between costs and volume, selling price,…

Q: Some producers do not stop their production when they face loss in their production. Why?

A: Shut-down decision signifies a short-run decision taken where a firm decides whether to operate or…

Q: What type of organization is appropriate in the competitive business environment?Please explain with…

A: Competitive business environment:-  A competitive environment can be explained as a framework…

Q: What is the purpose of a manufacturing or a service business?

A: Manufacturing business includes transforming the inputs into finished goods.

Q: What is profit

A: Profit = Revenue - costs

Q: How can we Determine Accounting Profit?

A: Profit is the income that the fourth factor of production, i.e. enterprise, generates from an…

Q: a. What is the profit-maximizing level of output?

A: The main objective of every firm is to maximize their profits. Profits are calculated by taking the…

Q: What is average profit margin means?

A: Profit margin is calculated by dividing income by sales to determine how profitable a firm or…

Q: Small “Mom and Pop firms,” like inner city grocery stores, sometimes exist even though they do not…

A: “Mom and Pop firms” is a small independent business entity where the ownership and operations are…

Q: When will a business shut-down in the short-run?

A: Short-run: - it is a short time period in which some factors of production are variable and some are…

Q: ilustrate and example of economic profit with numbers

A: Economic profit is the profit one gets after taking into account the implicit and explicit costs,…

Q: When we know that the firms are earning just normal profits.

A: To find : When do firm earn normal profit.

Q: Describe the methods that can be used to to determine where profit is maximized?

A: A firm in short run and long run chooses to maximize its profits. Output levels of the firm are…

Q: What is the firms profit or loss?

A: Since the marginal revenue of the firm is above the average total cost and the marginal cost the…

Q: Imagine that you own your business. a) Think about your production process. Please explain the…

A: I own the business of making robots. a)In the production process of robots,my firm uses advanced…

Q: Why do managers make bad decisions?

A: Managers and leaders are simply human, and people aren't ideal decision-makers, so anticipate a…

Q: Can you give examples of companies with perfect competition?

A: The markets refer to the place where the buyers, and sellers interact. In the markets, the sellers…

Q: If you plan to open a business, what do you need to consider when compiling your costs?

A: While opening up the new business, the main factor to be considered while compiling the cost is to…

Q: What is the difference between economic profit and accounting profit?

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: how can young budding entrepreneurs compete with older, more experienced entrepreneurs? is it enough…

A: An entrepreneur is a person who starts a new company and bears the most of the risks while reaping…

Q: What actions can help a firm grow?

A: Expànding the company can take a wider rànge. The CEO may develop new businesses, expand new…

Q: To compute Economic Profits, which costs are used? Illustrate

A: The term ‘Economic Profit’ of a firm or an organization refers to the difference between the revenue…

Q: How to Determine "Accounting Profit"

A: Accounting profit refers to the net operating income, which comes after deducting cost of land, cost…

Q: Q1: Why do the companies change their products every time?

A: Companies change their product in order to sell more.

Q: Strategic alliances and networking help to enhance the business competitiveness of a firm. Please…

A: Strategic Alliance and networking improve the market productivity of companies. Strategic…

Q: how to forecast a demand for a new company?

A: Steps to forecast demand for a new company 1.Objective It is very important that company should set…

Q: explains why business should be ethical and why not all businesses are ethical.

A: Business Ethics:  By definition, business ethics allude to the norms for ethically good and bad…

Q: Explain  the block chain technology in agricultural and give examples

A: The economies around the globe are involved in various types of economic and financial activities,…

Q: What kind of business is a travel agency? What problems are solved with the help of a travel agency…

A: 1. A travel agency is a private merchant or government agency that offers tourism and travel related…

Q: What yardstick can a firm use to determine where it should produce?

A: To determine the level at which the firm should produce.