Nike produces athletic shoes. As producers of a good, Nike: a. uses no labor in the production process. b. produces for immediate consumption of the product. c. uses mostly labor in the production process. d. can measure quality by counting the number of satisfied customers. e. can measure quality by counting the number of rejects. Nike produces athletic shoes As producers of a good Nike a.uses no labor in the production process @ b.produces for immediate consumption of theproduct c.uses mostly labor in the production process d.can measure quality by counting the number of satisfied customers @e.can measure quality by counting the numberof rejects
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Nike, Reebok, Adidas, and New Balance are popular brands of athletic shoes. Generally, Nike and Adidas charge higher prices than the rest of the competitors. These two brands also offer a wide range of prices for many models of sports shoes. This is because the athletic shoe industry is classified under monopolistic competition market structure.
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NK Pty Ltd manufactures tennis shoes. The following data is from the past six months: Month Volume Revenue Cost March 101,396 $253,490 $244,070 April 120,040 $300,100 $297,907 May 151,916 $379,790 $350,162 June 151,467 $378,668 $351,128 July 115,702 $289,255 $286,874 August 129,935 $324,838 $310,459 Assume you are a junior management accountant working for NK Ltd. Your manager tells you that the owners of the business are unhappy with the 6 month profit total. They have demanded that after tax profit is at least $23,800 every month. The tax rate is 30%. Approximately how many pairs of tennis shoes does the firm need to sell each month in order to hit the owners’ profit target? Group of answer choices 137,345 168,427 179,582 162,844
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