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A grocery store needs to sell 3,000 cartons of 2L 2% milk per month. The sales is relativiely constant throughout the month. The owner of this grocery store purchases milk from a supplier 50 miles away for $2 per carton. It takes a day to restocl. The holding cost per carton per month is $1.5, and the ordering cost per order is $18.5 including labor, gas and depreciation. Consider a month of 30 days.
The optimal order quantity is about____ cartons of milk, and the average inventory is about ___ cartons.
Given the optimal order quantity calculated above, if the average inventory is 136 cartons, then the monthly holding cost is ____ dollars, and the total cost including the cost of supply or the total unit cost for all units, holding and ordering is___ dollars.
The reorder point is ___ cartons.
Determine the difference between Total Variable Costs (TVC), Average Variable Costs (AVC) and Marginal Costs (MC).
Explain how this tax or subsidy would achieve the socially efficient level of output. Among the various interested parties - the monopoly firm, the monopoly's consumers, and other taxpayers - who would support the policy and who would oppose it?
Estimate whether and how each of the following factors would shift demand curve for chiropractic visits; an increase in the out of pocket price of chiropractic visits.
Plot graphically the demand and MR curves for each market, and also show GGC's combined marginal revenue curve (?MR) and its MC curve. Show graphically the quantities that should be produced and sold, and the prices that should be charged, in each..
Using the Internet, library and/or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
The long run supply curve for a particular type of kitchen knife is horizontal line at a price of dolla three per knife. The demand curve for such a kitchen knife is
The costs of manufacturing steel declined substantially from building a conventional hot rolled steel mill down to new mini mill technology that need only scrap metal,
Catfish farming in Louisiana is a perfect competition market. Hence, customers of catfish are getting their catfish at the minimum cost per unit of manufacturing catfish, and they are very happy.
Name some areas of business in the United States where the prevailing market structures have changed dramatically in last 20-years and discuss the direction of change
When Wal-Mart locates in a smaller town, often the local retailers (e.g., hardware, clothing, and appliance stores) are unable to successfully compete and are driven out of business.
The effective capacity and efficiency for next quarter at MMU Mfg. in Waco, Texas, for each of three departments are given below. Compute the expected production for next quarter for each department.
A monopolist has two types of customers. There are 100 of TYPE A, who will each pay up tp $10 for a single unit of the good, and 50 of TYPE B, who will each pay up to $8.00.
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