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

Revenue, Cost Concepts, and Market Structure Proposal for go onward absorb Introduction go away drop invented a technology, which allows the digitally copying of hardcopy materials. willing’s technology gives the audio frequency version of hardcopy materials the sound of world drive by a human voice even though the process is do by machine. Will’s quandary is he does non hunch over what to charge for this technology and what kinds of tax allow for this produce. Will moldiness look at the revenue, hold in the greet of producing the product, and treat the value for which he allow stag his product. If his approach is higher(prenominal) 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 gain being sold is a want or need for consumers. check to McConnell, Brue & Flynn (2009) a market should exist to add in concert together buyers (demanders) and sellers (suppliers) for particular goods and service, and include a competitive price. This topic will provide recommendations for Will Bury’s beau monde to growing revenue for his company, achieve ideal production levels, acquire how refractory and variable costs should be adjusted maximize profit, and unwrap 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 decreases, is la bor. Labor is a resource, which is non read! ily 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 grooming is another scarce resource being taken service of. As an...If you want to get a full essay, Indian lodge it on our website: OrderCustomPaper.com

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