Question

This question is for fun. Imagine that you are in the following real life situation. You...

This question is for fun. Imagine that you are in the following real life situation. You are interviewing for a job at a retail store. The interviewer asks you what classes you are taking and what you are learning in class. You tell her that you are studying microeconomic theory and that you are learning about profit maximization. The interviewer becomes excited. She asks you for advice on increasing the profits of the store. What do you tell the interviewer?
0 0
Add a comment Improve this question Transcribed image text
Answer #1

I would tell the interviewer that according to the cost function and price function of the overall firm, understand the concept of marginal analysis and compute quantity where marginal cost is equal to marginal revenue. At this point, whatever quantity comes under the belt, it is the profit maximization quantity all in all.

Add a comment
Know the answer?
Add Answer to:
This question is for fun. Imagine that you are in the following real life situation. You...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • NOW, imagine we selected the following individuals from a different real estate group in the company...

    NOW, imagine we selected the following individuals from a different real estate group in the company Student Their Research Methods II Grades E 10 F 12 G 7 Н 8 10. With your discussion group, tell me if this new sample of agents (E, F, G, and H) differ significantly from what you would expect given the population of whole company. Hint: It might help to work through the eight steps again, but all I need to see for this...

  • In Real Life: Win-Win Problem Solving [ Silence ] [ Noises ] >> Can you be...

    In Real Life: Win-Win Problem Solving [ Silence ] [ Noises ] >> Can you be a little more quiet? I don't have class until 10 o'clock. I want to catch up on some sleep. >> Sorry to bother you. I am cleaning up last night's dinner dishes. >> Well, I wish you would do it a little more quietly. I was up late studying, >> Well if you would've washed them last night, I wouldn't have had to clean...

  • Read the following scenario and provide advice to the individual involved. You need to tell us...

    Read the following scenario and provide advice to the individual involved. You need to tell us what a virtue ethicist would recommend doing here. Show your work – do not just tell us what they would recommend doing, explain why, using the moral theory, they would recommend this course of action. To apply virtue ethics, use the doctrine of the mean, focusing on the virtues and vices involved in this situation. The theory is subjective, so you need to choose...

  • answer question 1,2 and 3 REAL LIFE PERSONAL FINANCE YOU BE THE FINANCIAL PLANNER While at...

    answer question 1,2 and 3 REAL LIFE PERSONAL FINANCE YOU BE THE FINANCIAL PLANNER While at some point in your life you may some flexibility in his short-term finances use the services of a financial planner, your since he has three months of living expenses personal knowledge should be the founda- in a savings account. However, three months tion for most financial decisions. For each can go by very quickly," as Patrick noted. of these situations, determine actions you Situation...

  • identify an organization you would be interested in studying. You will investigate the organizational behavior in...

    identify an organization you would be interested in studying. You will investigate the organizational behavior in this organization and research best practice solutions for any problems you observe. You may select your own organization, the organization of a family member, or an organization that interests you. Be sure to review each week’s assignments before selecting the organization to make sure you can locate necessary information. Contact your instructor early in the week if you need advice on your organizational selection....

  • Question: In Real Life: Paraphrasing on the Job Transcript Activity [ Silence ] >> Jill: Oh, hey, I'm having the...

    Question: In Real Life: Paraphrasing on the Job Transcript Activity [ Silence ] >> Jill: Oh, hey, I'm having the strangest feeling about our boss lately. >> Mark: What's that? >> Jill: Well I'm beginning to think maybe this thing about women, or maybe it's just about me. >> Mark: You think he's coming onto to you. >> Jill: Oh, no not at all. But it seems like he doesn't take women, or me seriously. >> Mark: What do you...

  • The following scenarios are drawn from real research articles. Imagine you were the one conducting these studies – tell me which type of statistical test would you in the following situations and why?...

    The following scenarios are drawn from real research articles. Imagine you were the one conducting these studies – tell me which type of statistical test would you in the following situations and why? In a study from 2009, researchers set out to examine whether call light use rate and the average call light response time contribute to patients’ fall and the injurious fall rates in acute care settings. As part of this study they compared the average call light response...

  • After reviewing video clip and readings, answer the following questions with a substanial reply to each....

    After reviewing video clip and readings, answer the following questions with a substanial reply to each. Make sure your answers are in complete sentences, each question response should be at three to four sentences each. 1. It is fun and interesting! History is simply the study of people. Nothing is more interesting than other people. Think about some of the more popular forms of entertainment in society today like reality television, professional sports, social media, etc. It is all about...

  • Forrester, NMSU, Exante Financial Services, and Others: Getting Real about Strategic Planning It must be nice...

    Forrester, NMSU, Exante Financial Services, and Others: Getting Real about Strategic Planning It must be nice to be the CIO of a FedEx, or a GE, or a Credit Suisse, where IT and the business are so tightly aligned you can barely tell the two apart. In such companies, corporate leaders understand that IT is a strategic asset and support it as such. These are places where the CIO is encouraged to spend the majority of his time on the...

  • Amazon Dash: More Than Just a Dash of Service Imagine you just walked into your local...

    Amazon Dash: More Than Just a Dash of Service Imagine you just walked into your local Target. What do you see? We’re betting that you picture the aisles of goods for sale. This might lead you to believe that retail stores are mostly in the business of providing products. However, retailers rarely manufacture the goods they sell—in fact, they’re actually in the business of service. Most retailers rely on repeat business and referrals to earn their profits, and therefore need...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT