According to the theory of the wisdom of crowds, under the right circumstances ________
A) a mass market approach is favorable to a target market approach
B) a target market approach is favorable to a mass market approach
C) groups are smarter than the smartest people in them
D) companies can make money by giving their products away for free
E) consumers can generate value
C
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Ethan was a professional classical guitar player until a motorcycle accident left him disabled
After long months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish guitars. The guitars sell for $600, and the fixed monthly operating costs are as follows: Rent and utilities $600 Wages and benefits to luthier 2,200 Other expenses 470 Ethan's accountant told him about contribution margin ratios, and Ethan understood clearly that for every dollar of sales, $0.60 went to cover his fixed costs, and anything above that point was profit. Ethan wishes to earn $5,000 of operating profit each month. Calculate the amount of sales revenue required to achieve the target profit. (Round your answer to the nearest dollar.) A) $5,450 B) $8,175 C) $13,784 D) $20,675
A parcel of property is described as follows: Starting at a point of beginning on the north side of Jones Road, thence running north 2,200 ft. to the iron pin, thence running east 1,500 ft. to the iron pin thence running south 2,200 ft. to an iron pin, thence running west to the point of beginning. Approximately how many acres are contained in this parcel of land?
A. 33 B. 65 C. 76 D. 92