Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An engineer has invented a new electric motor that can be fitted to bicycles. She believes that her invention has significant commercial potential because it

image text in transcribed

An engineer has invented a new electric motor that can be fitted to bicycles. She believes that her invention has significant commercial potential because it will retail for $600 per unit, which is substantially cheaper than existing products, all of which are technically inferior. The engineer has a working prototype, but she cannot afford to launch it unless she can raise the $400,000 that it will cost to have an initial batch of motors manufactured and to cover initial marketing. Explain whether crowdfunding will be a suitable means for the engineer to raise the $400,000 that she requires. [5]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Students also viewed these Finance questions

Question

What is American Polity and Governance ?

Answered: 1 week ago