The disadvantages of defined benefit pension plans for employees are Benefits are not paid normal retirement, no investment control
What are the pros and cons of defined benefit pension plans?Pros:
The Pension Benefit Guaranty Company, if the plan is insured, ensures the majority, if not all, of the earned benefit in the event that the employer is unable to pay.Offers potential cost-of-living increasesDeferred tax assetsProfessional money managers oversee the management of assets.Absence of employee contributions negates employee investment risk.The amount of a retirement benefit is known in advance.There are possibilities for survivors.Cons:
Certain plans don't permit lump-sum payments.Benefits are typically not paid until the age of normal retirement.Usually won't benefit a worker who quits their job before retirementEmployee has no investment controlGrowth may be less than that of a defined contribution plan if there are no employee contributions.more expensive for the employer to administerTo learn more about defined benefit pension plans with the given link https://brainly.com/question/24015600
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When firms innovate by leveraging existing technologies into new markets, they are said to be involved in_________?
When firms innovate by leveraging existing technologies into new markets, they are said to be involved in Architectural Innovation.
When new products or services employ current technology to open up previously untapped markets or attract new customers, this is known as architectural innovation.
Businesses can innovate by utilizing and modifying current technologies to develop new goods and services that cater to untapped markets and clientele. Given that a product's architecture is altered in order to generate a new product and enter new markets, this form of innovation is known as architectural innovation.
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How important to a company’s investors and shareholders is the personal behavior of the ceo? do people have to like him/her for the company to be successful?
The shareholders and investors of the company place a high value on the CEO's personal conduct. This is mostly due to the fact that shareholders and investors are contributing or investing their hard-earned money into the business with high return expectations.
The most influential and powerful title in business, it is also the most thrilling, gratifying, and exciting. A company CEO has a number of stakeholders, each of whom has different objectives and, consequently, views. The end result of these efforts is a model for CEO excellence that suggests attitudes and behaviors that are particularly likely to assist CEOs in succeeding at their specific responsibilities.
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What should an effective small business professional demonstrate in fulfilling their role?
An effective small business professional fulfills their role as a trusted business advisor.
The small business is usually the manufactures and the distributors, and they are thus capable of generating a personal touch with the business. The role of the small business professional is to act as a trusted business advisor by providing assistance and counseling to the small businesses.
These professionals are also responsible for developing business management goals and objectives which leads to growth and prosperity. Small business advisors work with multiple clients at a time by supporting the business goals, and providing industry insights.
Hence, the answer is given and explained above.
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What term is used to describe the special incentives offered by a firm to encourage customers to make a direct purchase?
Sales promotions is used to describe the special incentives offered by a firm to encourage customers to make a direct purchase.
What is Sales Promotion?One component of the promotional mix is sales promotion. Advertising, personal selling, direct marketing, and publicity/public relations make up the bulk of the promotional mix.In order to boost customer demand, generate market demand, or improve product availability, sales promotion employs both media and non-media marketing communications for a predetermined, brief period of time.Examples include giveaways, coupons, discounts, point-of-purchase displays, premiums, prizes, free samples of goods, and rebates.Sales campaigns might target customers, salespeople, or anyone in the distribution chain (such as retailers).Consumer sales promotions are marketing campaigns that are aimed at consumers. Trade sales promotions are advertising campaigns aimed at wholesalers and retailers.To learn more about Sales Promotion with the given link
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The high-income economies of the world contain approximately __________ of the world’s population and produce and consume ___________ of the world’s gdp.
The high-income economies of the world include approximately 12% of the world’s population and produce and consume 60% of the world’s GDP.
What is GDP?The gross domestic product stands as a monetary measurement of the market value of all the final goods and services produced in a distinctive period by countries. Due to its complex and subjective nature, this measure exists often revised before being deemed a reliable indicator.
Gross domestic product (GDP) stands for the total monetary or market value of all the finished goods and services constructed within a country's borders in a typical period. GDP measures the worth of the final goods and services produced in the United States (without double counting the middle goods and services used up to produce them).
The high-income economies of the world include approximately 12% of the world’s population and produce and consume 60% of the world’s GDP.
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The high-income economies of the world contain approximately 12% of the world’s population and create and consume 60% of the world’s GDP.
What is Gross domestic product?
Gross domestic product is a financial measure of the market value of all the final goods and benefits produced in a specific time period by countries. Due to its complex and subjective nature this step is often revised before being considered a reliable indicator.
GDP is more reasonable comparing national economies on the international market. Total GDP can also be damaged down into the contribution of each industry or sector of the economyGDP definitions are supported by a number of national and international financial organizations.To learn more about Gross domestic product, refer
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________ models assist top-level managers in long-range planning, such as stating company objectives or planning plant locations. group of answer choices strategic corporate tactical operational
Strategic models assist top-level managers in long-range planning, such as stating company objectives or planning plant locations. Option A.
This is further explained below.
What is a Strategic model?Generally, The process by which an organization takes its strategy and prepares a plan to apply it in order to enhance operations and more effectively fulfill its objectives is known as a strategic planning model.
In conclusion, The most senior executives in a firm may benefit from using strategic models for long-term planning activities, such as articulating the company's goals or determining the placement of its facilities. Alternative 1.
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Family a’s income is more than twice that of family b, yet family b has more equity. how do you account for the difference?
Family a’s income is more than twice that of family b, yet family b has more equity as the not have as much to pay for things such as an extra.
The idea of equity is synonymous with equity and justice. it's miles beneficial to consider fairness as not genuinely a preferred scenario or a lofty value.
Equity is the ownership of any asset after any liabilities associated with the asset are cleared. as an instance, stocks are referred to as equities due to the fact they represent possession in corporations. They permit traders gain from increase but also have threat when enterprise situations weaken. next time, we'll explore the differences among shares and bonds.
The principle gain of equity financing is that there is no duty to repay the cash received through it. fairness financing locations no additional financial burden at the agency, however, the downside can be quite large.
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If an offeror retracts an offer before acceptance, termination by __________ has occurred. multiple choice lapse of time revocation counteroffer rejection illegality
If an offeror retracts an offer before acceptance, termination by offer revocation has occurred.
Revocation means when an offer is withdrawn by the offerer.
The common rule was established in Payne v Cave that an offer can be revoked at any time before the acceptance takes place. But, the revocation must always be communicated effectively directly or indirectly to the offeree before acceptance .
Moreover, sufficient communication does not need to be made by the offeree personally ,the offer may still be able to withdraw even if it is stated specifically that it would remain open for a fixed period
when the promise if made to leave an offer open was not made by any consideration given by the offeree.
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Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the a.customer's ledger b.purchase ledger c.inventory ledger d.creditor's ledger
Option D. Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the inventory ledger.
What is the inventory ledger?This is the ledger or the stock of inventory that is able to track all of the transactions that are done in the inventory of the business firm. The inventory is one that tells one of the stock of goods in the firm and this has to match up with what is available in the general ledger of the firm.
The inventory ledger is used by putting the date that the purchases where made in the columns that they should be found. also the description of the ledger has to be entered in the part that says description.
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What is k-means from a basic standpoint? What are the various types of clusters and why is the distinction important? what are the strengths and weaknesses of k-means? what is a cluster evaluation?
K-means is an algorithm for unsupervised clustering that divides unlabeled data into a predetermined number (the "K") of unique groupings. To put it another way, K-means identifies observations that have similar crucial properties and groups them into clusters.
What are the various types of clusters and why is the distinction important?
The several types of clustering include:
Connectivity-based Clustering (Hierarchical Clustering): According to the idea that every object is connected to its neighbors based on their closeness distance, hierarchical clustering, also known as connectivity-based clustering (degree of relationship).Centroid-based or partition clustering- Of all the clustering types used in data mining, centroid-based clustering is the simplest. It bases its operation on how closely the data points resemble the selected center value.Density-based Clustering (Model-based Methods): In this method, density is taken into account before distance.Distribution-Based Clustering- In this method, data points are created and grouped according to how likely it is that they would belong to the same probability distribution (such as a Gaussian, binomial, or other) in the data.Fuzzy Clustering: Fuzzy clustering broadens the use of partition-based clustering by allowing a data object to be a part of more than one cluster.Constraint-based (Supervised Clustering) - A constraint is characterized as the desirable characteristics of the clustering outcomes or a user's expectation of the resulting clusters. A predetermined number of clusters, the size of the clusters, or important dimensions (variables) required for the clustering process can all be used to convey this.What are the strengths and weaknesses of k-means?
One of the most popular and widely used clustering techniques is simple k-means. K-means has a lot of benefits, one of which is that it is quite simple to use and, more importantly, that most of the time you don't even have to use it yourself!We can never be certain of the true cluster because the same data inputted in a different order could result in a different cluster if there are little data. sensitive to the original state. Different starting circumstances could lead to different cluster results.What is a cluster evaluation?
Sharing accomplishments and cooperative problem solving among the projects in the cluster form the basis for cluster evaluation (often projects funded from a basket fund).
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Of the three core processes of business identified by bossidy and charan, which do they believe is the most important?
Of the three core processes of business identified by Bossidy and charan people are the most important.
No profitable method may be deliberate without contemplating the company's capability to execute it. The heart of execution lies in 3 core tactics: the human technique, the method system, and the operations process. Each enterprise and corporation uses these methods in a single form or different.
There are 3 specific forms of enterprise operations- service, merchandising, and manufacturing. For a commercial enterprise to feature properly and productively, entrepreneurs have to recognize which business operation aligns with their corporation and the duties it involves.
Core methods are the ones involved in the improvement and advent of the products or services, the advertising, and marketing, and transfer to the service beneficiary or customer, in addition to patron feedback or after-sale aid of the services or products.
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A norm that some people accept, like going out for a beer after work, but that is not important to organizational success is called:________.
A norm that some people accept, like going out for a beer after work, but that is not important to organizational success is called: peripheral.
the question is incomplete .please read below to find the missing content
An organization or organization (in Commonwealth English; see spelling differences) is an entity such as a legal entity, institution, or association made up of one or more persons with a specific purpose.
The organizational structure used in most companies today is represented by three organizational forms: functional, departmental, and matrix. Each of these forms has advantages and disadvantages that owners should consider before deciding which one to implement in their business.
The definition of an organization refers to the act of putting things in a logical order, an efficient and methodical approach to a task, or a formally assembled group of people. Clearing out your desk and putting all your papers in a logical place is an example of organization.
A norm that some people accept, like going out for a beer after work, but that is not important to organizational success is called
a. social.
b. pivotal.
c. relevant.
d. peripheral.
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A president who pursues foreign policy strategies that focus on promoting military defense and homeland security and perceives involvement in international organizations or cooperation with other countries as a potential threat to the national security and sovereignty of his or her country is following a grand strategy of _____.
A president who pursues foreign policy strategies that focus on promoting military defense and homeland security and perceives involvement in international organizations or cooperation with other countries as a potential threat to the national security and sovereignty of his or her country is following a grand strategy of isolationism.
what is a president?The head of state and government of the United States of America is the president of the United States (POTUS)[A]. The president serves as both the head of the executive branch and the supreme commander of the armed forces of the United States.Since the President was established in 1789, its authority has increased significantly.Although the presidential authority has fluctuated throughout time, it has played a significant role in American politics since the turn of the 20th century, particularly under the administration of Franklin D. Roosevelt.Describe military.A military, usually referred to as the armed forces as a whole is a well-equipped, well-organized force that is primarily designed for combat. Its members can usually be recognized by their distinctive military uniforms, and it is often approved and maintained by a sovereign state. One or more military branches, such as the army, navy, air force, space force, marines, or coast guard, may make up this force.Defense of the state and its interests against external armed threats is typically defined as the military's primary duty.Learn more about president here:
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How do you think americans would feel if other countries began to urge the united states to increase environmental standards?
If other countries urged the United States to increase environmental standards, the Americans would not like the interference of other countries in their domestic country.
Environmental requirements are generally set by means of government and may consist of prohibition of unique sports, mandating the frequency and methods of monitoring, and requiring permits for the usage of land or water. standards vary depending on the form of environmental pastime.
Environmental standards are administrative rules or civil regulation regulations applied for the treatment and protection of the surroundings.
The ESF enhances the world financial institution's dedication to sustainable improvement thru ten Environmental and Social requirements (ESS) that are designed to guide borrowers' environmental and social (E&S) threat management.
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If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms,.
If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms, they will be unable to earn higher-than-normal profits in the long run.
What is a monopolistic competition?A monopolistic competition is an industry that is a market where there ae many competing supplier of differentiated goods. Goods sold in a monopolistic competition are substitutes for one another. The barriers of entry into the industry is low. An example of monopolistic competition are restaurants.
A perfect competition is an industry where there are numerous buyers and sellers of identical goods and services. The market share of sellers is so low that the sellers are not able to influence the price at which the goods are sold in the market. Firms that operate in a perfectly completive industry earn zero economic profit due to no barriers to the entry and exit of firms into the industry.
Here are the options:
A. they will be unable to earn higher-than-normal profits in the short run. O B. they will wish to cooperate to make decisions about what price to charge.
OC. they will wish to cooperate to make decisions about what quantity to produce.
O D. they will be unable to earn higher-than-normal profits in the long run.
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The entry and exit of firms in a purely competitive industry help to improve resource allocation because:_______
The reason why the entry and exit of firms in a purely competitive industry helps to improve resource allocation is because the losses result in exit and release resources to flow to markers where there are profits.
How can the purely competitve market be beneficial?Purely competitive industries allow for easy entry and b which leads to many firms coming into the market.
As a result, there is too much supply which leads to losses when prices drop.
As the companies suffering losses leave the market, they then invest in other markets where there are profits thereby reallocating resources.
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What strategy did hunter-gatherer communities (bands) develop to enhance cooperation, generosity and the sharing of resources?
The egalitarianism strategy, hunter-gatherer communities (bands) develop to enhance cooperation, generosity, and the sharing of resources.
What is the egalitarianism strategy?Egalitarianism is a philosophical viewpoint that promotes equality and fairness regardless of gender, religion, economic status, or political opinions. Egalitarianism may be concerned with income inequality and distribution, which are notions that have affected the evolution of numerous economic and political systems.According to legal egalitarianism, everyone must follow the same laws, with no particular legal safeguards for one group over another.Many countries around the world have elements of egalitarianism embedded into their social fabric.Hunter-gatherer groups (bands) form as part of the egalitarianism method to improve cooperation, generosity, and resource sharing.Therefore, the egalitarianism strategy, hunter-gatherer communities (bands) develop to enhance cooperation, generosity, and the sharing of resources.
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George wants to be a registered nurse, so the best course of training is:
OA. a four-year college degree.
OB. on the job training.
OC. a trade school certificate.
OD. a graduate school after college.
If George wants to be a registered nurse, the best course of training is: A. a four-year college degree.
Who is a registered nurse?A registered nurse can be defined as someone who is qualified to practice nursing and have been giving the license to practice nurse.
Hence, Option A is correct because to be a registered nurse the person must meet the necessary requirements and one of the requirement that must be meet is to have a bachelor's degree in nursing or a four-year college degree in nursing from an accredited university or college.
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Answer:
A
Explanation:
i just got it's right
Jason is a very efficient and driven manager who makes all the decisions himself. He comes across as a very assertive person who often directs his employees on what needs to be done. To motivate his employees, he mostly uses monetary bonuses as rewards. In this scenario, Jason can be regarded as a(n) ________ leader.
Jason is a very efficient and driven manager who makes all the decisions himself. He comes across as a very assertive person who often directs his employees on what needs to be done. To motivate his employees, he mainly uses monetary bonuses as rewards. In this scenario, Jason can be regarded as an autocratic leader.
Leaders who use the autocratic style generally make all selections with little to no entry from others. it is critical to differentiate dictators from those leaders. All dictators are autocratic leaders, but not all autocratic leaders are always dictators.
An authoritarian management style is exemplified whilst a pacesetter dictates guidelines and tactics, decides what desires are to be achieved, and directs and controls all activities without any meaningful participation from the subordinates. One chief has complete control of the team, leaving low autonomy within the organization.
Leaders of Silicon Valley consisting including bill Gates, Steve Jobs, and Elon Musk are examples of autocratic leadership. yet, those are names human beings are looking to emulate. although they're examples of autocratic leadership in enterprise, they have got additionally transformed society.
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When currency options are not standardized and traded over-the-counter, there is ____ liquidity and a ____ bid/ask spread.
When currency options are not standardized and traded over-the-counter, there is less liquidity and a wider bid/ask spread.
A currency option is a contract which gives the buyer the right, but not the obligation, to buy or sell a certain currency at a specified exchange rate on or before a specified date. As, for this right, a premium is paid to the seller.
There is less liquidity, when the currency options are not standardized and traded over-the-counter. This means that markets have few opportunities to buy and sell, so there is a wider bid/ask spread, where the assets also become difficult to trade.
Hence, bid-ask spreads can widen during times of heightened market risk.
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What should a firm do in order to be organized to capture value? (check all that apply.)
What a firm should do in order to be organized to capture value are have a good organizational structure and have good coordinating systems. A firm (company, establishment) is a body or an organization that employs productive resources to obtain products and/or services which are offered in the market with the aim of making a profit.
What is a firm value?Enterprise value (EV), total enterprise value (TEV), or firm value (FV) is an economic measure reflecting the market value of a business (that is, as distinct from market price). It is a sum of claims by all claimants: creditors (secured and unsecured) and shareholders (preferred and common).
Therefore, the correct answer is as given above
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The complete question goes thus:
What should a firm do in order to be organized to capture value? (Check all that apply.)
-have a good organizational structure
-have a rare and valuable resource
-have good coordinating systems
-have CEOs with forward-thinking vision
In ricks ppi he notes the description location cost and time of purchase what is he missing? previous value,current value or future value.
He is missing future value.
What is future value?The worth of an asset at a future date is referred to as its future value. It is the present value multiplied by the accumulation function; it is the nominal future sum of money that a particular sum of money is "worth" at a specific time in the future assuming a certain interest rate or, more broadly, rate of return.
Future value is the value that will exist in the future. So, at 10%, Rs 110 is the future worth of Rs 100. The present value is useful in making investment decisions that are based on the current value.
The worth of a current asset at a future date based on an estimated rate of growth is known as future value (FV).
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Describe how crashing and fast tracking can be used to compress a project schedule. What limitations could there be with each of these methods?
Techniques for compressing the schedule include Crashing and Fast Tracking. You use them to shorten your timetable and to meet a specific scheduling objective. Fast-tracking entails carrying out two tasks concurrently, even though they wouldn't typically be.
How does fast-tracking differ from crashing to compressing a project schedule?
In conclusion, the distinctions between crashing and fast tracking are as follows: Fast-tracking entails running tasks simultaneously, whereas crashing entails adding resources to a project. The increased danger is associated with quick tracking, but the increased expense is associated with crashes.
What limitations could there be with each of crashing and fast-tracking?
Fast-tracking is free but increases the risk associated with your project. Adding more resources to your project is referred to as "crashing." Having a crash costs more money. To compress your calendar the most while spending the least amount of money, you should crash such activities. method:
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The largest city in brazil, san paulo has a population of about 11 millon. based on the rank-size rule, what is the population of the second-largest city, rio de janeiro, mostly likey to be:_______
The population of the second-largest city, Rio de Janeiro, is most probably to be five-6 million.
Rio de Janeiro, or Rio, is the capital of the state of Rio de Janeiro and the second one-biggest town in Brazil. Rio is one of the most visited towns in the southern hemisphere, home to many famous landmarks which include the statue of Christ the Redeemer at the Corcovado mountain, which was named one of the New Seven Wonders of the sector. In 2016, Rio de Janeiro turns into the primary South American and Portuguese-speaking state to host the 2016 summertime Olympics. Rio de Janeiro has an estimated population of 6.45 million in 2016.
According to the rank-length rule, there has to be a bigger range of small cities than larger towns. additionally, this rule predicts that the bigger a town's population is then the fewer towns there have to be in the surrounding region with a similar populace.
Rio de Janeiro became the colonial capital in 1763 and turned into the capital of independent Brazil from 1822 until 1960 when the countrywide capital changed moved to the brand new city of Brasília; the territory constituting the former Federal District became transformed into the Guanabara kingdom, which shaped an enclave in Rio de Janeiro kingdom. In March 1975 the 2 states were fused because of the kingdom of Rio de Janeiro.
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The population of the second-largest city, Rio de Janeiro, is most probably to be five-6 million.
Rio de Janeiro, or Rio, is the capital of the state of Rio de Janeiro and the second one-biggest town in Brazil. Rio is one of the most visited towns in the southern hemisphere, home to many famous landmarks which include the statue of Christ the Redeemer at the Corcovado mountain, which was named one of the New Seven Wonders of the sector. In 2016, Rio de Janeiro turns into the primary South American and Portuguese-speaking state to host the 2016 summertime Olympics. Rio de Janeiro has an estimated population of 6.45 million in 2016.
According to the rank-length rule, there has to be a bigger range of small cities than larger towns. additionally, this rule predicts that the bigger a town's population is then the fewer towns there have to be in the surrounding region with a similar populace.
Rio de Janeiro became the colonial capital in 1763 and turned into the capital of independent Brazil from 1822 until 1960 when the countrywide capital changed moved to the brand new city of Brasília; the territory constituting the former Federal District became transformed into the Guanabara kingdom, which shaped an enclave in Rio de Janeiro kingdom. In March 1975 the 2 states were fused because of the kingdom of Rio de Janeiro.
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A weak company culture A. celebrates change and consensual decision-making. B. produces champions of innovation and creativity. C. creates harmonious subcultures along its value chain. D. promotes greed-driven and unethical behaviors. E. rewards consensus thinking.
One thing that a weak company culture does is that it D. promotes greed-driven and unethical behaviors.
What is the effect of a weak company culture?A weak company culture is one that allows for unethical behavior to be perpetrated with impunity.
Such a culture would give rise to greed as people try to outpace each other through unethical actions.
This means that there would be little teamwork and instead a toxic environment would be the order of the day. Such a company cannot hope to survive for too long before it crumbles.
In conclusion, option D is correct.
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The ________ is the optimum budget to managers that plan revenues and expenses at different sales volumes.
A flexible budget is an optimum budget for managers that plan revenues and expenses at different sales volumes.
What is flexible budget?A flexible budget is one that varies in response to changes in actual revenue or other activities. As a result, the budget is reasonably close to the actual results. This technique differs from the more conventional static budget, which comprises only fixed spending numbers that do not change in response to real revenue levels.
A flexible budget will include budget lines for various amounts. For example, if your monthly widget production is 100, your variable admin costs could be $200. However, if you produce 200 widgets every month, your variable admin costs will rise to $400.
Entrepreneurs can adapt with change thanks to flexible, rolling budgets. This nimble planning process lets you adjust spending throughout the year
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In the open-economy macroeconomic model, the source of the supply of loanable funds is:_______
In the open-economy macroeconomic model, the source of the supply of loanable funds is national savings.
The demand for loanable funds comes from domestic investment (I) and net capital outflows (NCO). The delivery and demand for a loanable budget depend on the actual interest price. A higher real interest rate encourages people to store, i.e. growth the supply of loanable funds.
The delivery of loanable funds comes from people and groups, together with government and businesses, that have determined not to spend some of their cash, however as a substitute, store it for funding functions. One way to make an investment is to lend money to debtors at a rate of interest.
The deliver of loanable price range represents the behavior of all the savers in an economy. The better interest price that a saver can earn, the much more likely they're to store cash. As such, the supply of loanable finances suggests that the quantity of savings to be had will increase as the interest charge will increase.
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________ is the right of an owner of property such as plants or animals to increase in the property. the owner of a cow, for example, owns the calves born to the cow.
Accession is the right of an owner of property such as plants or animals to increase in the property. the owner of a cow, for example, owns the calves born to the cow.
Accession refers to the ownership of a property or any other thing, whether it be real or personal, movable or immovable. It carries with it the right to all that the thing produces, and to all that becomes united to it, either naturally or artificially. This this is called the right of accession. This right is given to an owner of a particular thing which is valuable.
Accession is the right of an owner of property over his particular valuable thing. This right is only given to that owner. For instance, the owner of a cow owns the calves born to the cow.
Hence, accession is important for every individual holding their valuables.
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What information do i need and how can i obtain this information are questions you should ask?
What information do I need and how can I obtain this information are questions you should ask yourself while conducting a research.
Before embarking on a research project, there are a few questions you need to ask yourself which holds importance as it will guide you to carry on the research in a systematic manner. First of all you have to decide on how to collect information for your research.
A good research question is essential to guide your research paper, project or thesis. It pinpoints exactly what you want to find out and gives your work a clear focus and purpose. All research questions should be focused on a single problem or issue.
Hence, the answer is given and explained above.
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Assume this firm is producing two units. which action should this firm take to maximize profits? produce one less unit. produce one more unit. produce two more units. produce three more units.
This firm should produce three more units to maximize profits as the production cost will decrease.
What is production cost?All production cost in the production of a good or service are included. Fixed costs and variable costs are the two categories into which they are subdivided.The continual, comparatively steady costs of running a business that are independent of production levels are known as fixed costs.They comprise all-encompassing overhead costs including salary and wages, building rent, or electricity bills.In contrast, variable costs are those that are directly associated with output levels and change accordingly, such as the price of raw materials used in manufacturing or the expense of running machinery during production.To know more about production cost with the given link
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