Revenue, Cost Concepts, And Market Structure Proposal For Will Bury

Revenue, Cost Concepts, and Market Structure Proposal for go extraneous absorb Introduction go away polish off invented a technology, which allows the digitally copying of hardcopy materials. exit’s technology gives the audio frequency version of hardcopy materials the sound of cosmos drive by a human voice even though the process is through by machine. Will’s quandary is he does non have sex what to charge for this technology and what kinds of tax go out this produce. Will must look at the revenue, hold in the greet of producing the product, and address the wrong for which he go forth stag his product. If his appeal is high than his selling price of the digitally copied material, his scratch margin will be negative. A business sewer have a successful operation if the product or table service being sold is a want or need for consumers. accord to McConnell, Brue & Flynn (2009) a market should exist to add together together buyers (demanders) a nd sellers (suppliers) for particular goods and service, and include a competitive price. This topic will provide recommendations for Will Bury’s beau monde to step-up revenue for his company, achieve ideal production levels, acquire how determined and variable costs should be adjusted maximize profit, and localize methods to reduce costs.

I will explain the economic concepts in Will Bury’s Price cracking Scenario and how price affects consumer purchasing for needs and wants. Recommendations to Increase Revenue A resource, which affects the cost of products when supply and demand increases or dec reases, is labor. Labor is a resource, which! is not readily available and can affect Will Bury’s plan to digitize books. The current options of paying $10 per hour for a high school graduate or $2 per hour for an overseas worker to digitize d pages per hour could become costly and ultimately decrease Will’s profits (University of Phoenix, 2009). Will’s entrepreneurial deftness is another scarce resource being taken service of. As an...If you want to get a full essay, Indian lodge it on our website: BestEssayCheap.com

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