Profits in excess of the opportunity cost of capital that a business owner gets by introducing a new technology, organisational form or marketing strategy is known as: a) Creative rents. b) Innovation rents. c) Capital rents. d) Opportunity rents. e) None of the above options are correct.
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Profits in excess of the
a) Creative rents.
b) Innovation rents.
c) Capital rents.
d) Opportunity rents.
e) None of the above options are correct.
Step by step
Solved in 3 steps
- With the aid of appropriate diagrams describe what each of the following abatement cost curves are, who is likely to create them, who is more likely to use them and where relevant their advantages and disadvantages against each other: a) Marginal abatement cost curve.b) Expert derived abatement cost curve.c) Model derived abatement cost curve.Which of the following is an example of economies of scope? A) A mountain resort begins running chairlifts for mountain bikers and hikers during the summer. The resort was initially built for skiing during the winter months. B) Some computer hardware manufacturers lower costs by outsourcing support services to call centers in India. C) Securicorp can provide security services to all local households at a lower average cost than if two firms provided home security. D) Walmart can transport goods and services at a lower cost than any of its retail competitors can.Q)What type of cost is the tuition paid for college credit after the census date when a refund is no longer possible? Marginal Cost Opportunity Cost Sunk Cost Total Cost
- According to the Resource-Based View, which of the following is most likely to result in sustainable above-normal profit rates? Access to a strong CEO that can lead the firm to an unprecedented level of market share Access to intangible resources that are currently producing significant value Access to complex capabilities that are currently producing significant value Access to tangible resources that are currently producing significant value.Opportunity cost refers to A) explicit costs+ implicit costs B) Time costs C) Money costs D) None of the aboveCreative Homework/Short Project As an account executive with a market research firm, you are responsible for deciding on the type of research to be used in various studies conducted for your clients. for each of the following client questions, list your choices of research approaches. a. Will TV or mobile device advertising be more effective for a local bank to use in its marketing communication plan? b. Should a California winemaker operating on a national scale switch from bottling its mid-tier wine ($9 to $15 per bottle) with corks to bottling it with screwcaps? c. Are consumers more likely to buy brands from firms that support strong sustainability initiatives? d. What existing features of an e-commerce site selling clothing to women are most important for making a purchase decision?
- A multiplant firm has equated marginal costs at each plant. By doing this: A) revenues are maximized given the level of output. B) profits are maximized. C) costs are minimized given the level of output. D) none of the aboveWhich of the following statements are true and which are false? Fill in the following table. The greatest potential for cost savings occurs in the operation phase of the life cycle. True Optimal volume (demand) occurs when total costs equal total revenues False The demand for necessities is more inelastic than the demand for luxuries A nonrefundable cash outlay (e.g., money spent on a passport) is an example of an opportunity cost. False Overhead costs normally include all costs that are not direct costs Most decisions are based on differences that are perceived to exist among alternatives.Study of an automobile industry is a subject matter of microeconomic True/False
- 37This is the penultimate step of the new product development process when feedback from consumers is solicited. An example of this would be a consumer playing a video game before it is released to the public and providing feedback to the game developer. Group of answer choices Idea Screening Development Testing Analysis Commercialization Idea GenerationWhich of the following sources of low costs is most popular? Group of answer choices Economies of scale "Technology" software Differential access to low-cost inputs Learning curvesWhich agricultural enterprise is relatively more efficient? Interpret all three derived economic parameters (breakeven yield, cost to produce a kilogram, and net profit) and discuss.