Discussion of the concept of opportunity cost

Assignment Help Marketing Management
Reference no: EM13732533

Assignment: Maximizing Profits and Minimizing Losses

Consider a supplier of agricultural equipment who is deciding how much of two products should be produced by his firm. You determine what the two products are.

Now create a report that includes a discussion and analysis regarding how such a supplier makes such a determination in order to maximize the firm's profits. Include in your response:

A discussion of exactly what costs are associated with profit maximization.

A discussion of the concept of "opportunity cost."

A discussion of the alternative production opportunities.

A discussion of the various constraints which firms face in maximizing their economic profit.

Reference no: EM13732533

Questions Cloud

Established pharmaceutical manufacturers such as merck : Next, consider the case of several large, established pharmaceutical manufacturers such as Merck. What type of market form do you believe that such manufacturers operate under
What is greenhouse effect : What is Greenhouse effect - We are legally, ethically,and socially required to green our IT products, applications, services, and practices - is this statement true? Why?
Senior citizens deserve income that will allow them to live : "Senior citizens deserve an income that will allow them to live in comfort for their remaining years."
A micro economist might study : A micro economist might study which of the following?
Discussion of the concept of opportunity cost : A discussion of the concept of "opportunity cost." AND A discussion of the alternative production opportunities
What is the net present value of purchasing the tractor : Farm must decide whether or not to purchase a new tractor. The tractor will reduce costs by $2,000 in the first year, $2,500 in the second and $3,000 in the third and final year of usefulness. The tractor costs $9,000 today, while the above cost savi..
What are five characteristics which differentiate projects : What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization. Why are these not the same
Explain why placed each competitor on its particular spot : Complete a perceptual map that includes a minimum of 10 competitors from that same industry. Explain why you placed each competitor on its particular spot on the map
Respect to the medical care sector : Every economy, as well as the medical care sector, must decide the following: what should be produced, how it should be produced, how it should be distributed, and how to allow growth and innovation. With respect to the medical care sector, how are t..

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd