Use the Following Scenario to Answer Thefollowing Questions

question 71

Multiple Choice

Use the following scenario to answer thefollowing questions:
An economy has two workers,Smith and Ricardo.Each day they work,Smith can produce 4 computers or 16 smartphones,and Ricardo can produce 6 computers or 12 smartphones.
-If Smith and Ricardo each spent half of his time producing computers and the other half producing smartphones,what would be the total output per day?

• A) 4 computers and 12 smartphones
• B) 5 computers and 14 smartphones
• C) 6 computers and 16 smartphones
• D) 8 computers and 22 smartphones
• E) 10 computers and 28 smartphones

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Definitions:

Marketing Mix

Refers to the blend of strategies used by a business to achieve its objectives in the target market, including variations in product offerings, prices, distribution methods, and promotional activities.

Five Ps

The components of the marketing mix, including Product, Price, Promotion, Place, and People, used to strategically position and sell a product or service.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific point in time, detailing assets, liabilities, and shareholders' equity.

Marketing Mix

The combination of factors controlled by a company to influence consumers to purchase its products, traditionally identified as the 4Ps: Product, Price, Place, and Promotion.