- Submitted By: bogdanzurac
- Date Submitted: 04/22/2015 5:00 AM
- Category: Miscellaneous
- Words: 604
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WGU EGT1 Complete Course Task 1 – 4

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TASK 1

Profit maximization involves a company using a long or short ran procedure that determines the cost and productivity level, which would gain the maximum proceeds. Profit would be equivalent to the total revenue (TR) minus the total cost (TC). Where the difference is the highest is where profit maximization is.

The profit calculation for marginal revenue (MR) to marginal cost (MC) is different. The company will compare the marginal revenue they receive from selling a single widget to the marginal cost of producing another widget, and how much cost it adds to the total revenue and total costs.

Task 2

Elasticity of demand can be measured from the change in percentage of quantity demanded compared to the change in percentage of a goods price. If the quantity demanded is identical as the percentage to change in price, the end result is a ratio of 1. This will be identified as unit elastic demand. You will observe this as a curve that is diagonal.

TASK 3

The antitrust laws were put together by the federal government as a way to make businesses compete with each other fairly. The laws prevent fixed pricing; promote ethical pricing as well as preventing monopolies among many other things. There are four major pieces of legislation that make up these antitrust laws and they are as follows:

Task 4

The most obvious challenge the company would need to overcome if expanding into Japan would be the language barrier. I won’t count that as a cross-culture difference but this would definitely been an issue to overcome. Firstly, the company will need to research their marketing ways in Japan. In North

WGU EGT1 Complete Course Task 1 – 4

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http://www.hwprofile.com/?p=122

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