Quick Answer: Based On The Survey Data, What Will Occur If A New Pizza Place Opens?

How much profit does the company make from producing and selling four soccer nets?

The chart shows a production possibilities schedule for Sabrina’s Soccer how much profit does the company make from producing and selling four soccer nets? $51.

What is the difference between absolute advantage and comparative advantage case study starting a business?

What is the difference between absolute advantage and comparative advantage? Absolute advantage is the ability to produce a good or a service at a lower production cost than competitors. Comparative advantage is the ability to produce a good or service at a lower opportunity cost than competitors.

You might be interested:  Quick Answer: How To Cook Flatbread Pizza?

Is the market for soccer balls saturated in the market for soccer nets is open which combination makes the most sense for Sabrina soccer?

Answer Expert Verified. The most logical combination would be to decrease the production of balls, and increase the production of nets, in order to achieve a market equilibrium that allows both products to be sold.

Which factors directly affect the company’s profit?

The number of production units, production per unit, direct costs, value per unit, mix of enterprises, and overhead costs all interact to determine profitability. The most basic factor affecting profit in any business is the number of production units.

Which level of production does the company make the most profit?

A company makes profit at the Commerce level of Production.

How can producers make the most profit Check all?

Answer Expert Verified They can work to decrease their marginal cost, they can raise prices to increase marginal revenue, they can also keep the marginal cost below marginal revenues.

What is an example of an absolute advantage?

Absolute advantage refers to the ability of a country to produce a good more efficiently than other countries. For example, the Canadian economy, which is rich in low cost land, has an absolute advantage in agricultural production relative to some other countries.

Is it possible to have a comparative advantage in the production of a good but not to have an absolute advantage?

It is not possible for a country to have a comparative advantage in all goods. However, a country can have an absolute advantage in all goods. It is in the best interest of countries to produce the goods and services in which they have the highest comparative advantage.

You might be interested:  Readers ask: How To Bbq Pizza?

What is an example of a comparative advantage?

Comparative advantage is what you do best while also giving up the least. For example, if you’re a great plumber and a great babysitter, your comparative advantage is plumbing. That’s because you’ll make more money as a plumber.

What can a producer gain by specializing?

Answer: Specialization is when a country or producer limits the types of goods they make to specialize in one item and make so much of it that they can send it to other countries. For example, USA specializes in corn becuase we can easily make it so we send it to other countries all over the world.

Which describes a way in which consumers most likely benefit from producers absolute advantage?

Which describes a way in which consumers most likely benefit from producers ‘ absolute advantage? Consumers ‘ opportunity costs decrease. Consumers can find a given product in more places. Prices decrease as a result of increased production efficiencies.

What is the difference between absolute advantage and comparative advantage Brainly?

Absolute advantage is the ability to produce a good or a service at a lower production cost than competitors. Comparative advantage is the ability to produce a good or service at a lower opportunity cost than competitors. Absolute advantage is the ability to sell a good or a service at a higher price than competitors.

What can impact profitability?

Factors that affect the profitability of firms

  • The degree of competition a firm faces.
  • The strength of demand.
  • The state of the economy.
  • Advertising.
  • Substitutes, if there are many substitutes or substitutes are expensive then demand for the product will be higher.
  • Relative costs.
  • Economies of scale.
  • Dynamically efficient.
You might be interested:  How Much Does Pizza Delivery Cost?

What are two ways to increase profit?

10 ways to increase your business’ profit margins

  1. Figure out your gross profit margin.
  2. Analyse your profit margins.
  3. Increase your prices.
  4. Review all your prices.
  5. Protect profit and stop discounting.
  6. Don’t compete on price.
  7. Take cash discounts from suppliers.
  8. Prevent theft.

Which affects both gross profit and net profit?

The difference between gross profit and net profit is when you subtract expenses. Gross profit is your business’s revenue minus the cost of goods sold. Net profit is your business’s revenue after subtracting all operating, interest, and tax expenses, in addition to deducting your COGS.

Leave a Reply