how does the manager determine what steps to take to make the firm possible? nuch lower.retail storé-and theS CHECKhe differences between an e-commerce store and a traditional5. Contrasting What cost advantage does e-commerce offerbusinesses?Writing About Economics6. Informative/Explanatory ABC Company has been breakingeven all year. The board of directors has hired a newmanager and charged her with the responsibility ofmaximizing profits. How does the manager determine whatsteps to take to make the firm profitable?

Answered: how does the manager determine what…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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how does the manager determine what steps to take to make the firm possible?

nuch lower.
retail storé-and the
S CHECK
he differences between an e-commerce store and a traditional
5. Contrasting What cost advantage does e-commerce offer
businesses?
Writing About Economics
6. Informative/Explanatory ABC Company has been breaking
even all year. The board of directors has hired a new
manager and charged her with the responsibility of
maximizing profits. How does the manager determine what
steps to take to make the firm profitable?

Expert Solution

Step

Manager has certain responsibilities for the firms development

The primary objective would be to increase sales and bring the firm into break even situation.

Secondary objective would be to maximize profits by increasing the sales to a much greater extent and taking necessary steps to maximize profits.

Manager would need to analyze price of the products,technology used in manufacturing those products.If the technology is not advanced then advanced technology needs to be used in order to gain cost advantage through economies of scale.

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