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The production department for a company requires 7200kg of raw material for manufacturing particular item per year. It has been estimated that the cost of placing an order is A 72 and the cost of carrying inventory is 25 percent of the investment in the inventories. The price of raw material is A 20 per kg. Find the economic order quantity (EOQ), the total cost per unit time and the cycle time.
Assume you are the plant manager for Crossroads Sign Company, which produces road signs in a market that approximates perfect competition. Due to a slow economy, business has been slow and the company is losing money every month.
Illustrate what would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production.
There is an ongoing debate over the use of arbitration clauses in consumer contracts. Differences between arbitration and litigation include the costs charged to the parties, the speed of resolution, Give an example of a company that uses consumer ar..
Suppose the average driving distance for the 2011 Masters Golf Tournament was 282.5 yards with a standard deviation of 12.2 yards. A random sample of 30 drives was selected from a total of 4,144 drives that were hit during this tournament. What is th..
Find a purely/perfectly competitive industry. State why this industry is a purely competitive market. Give examples as to why. Please use the dropbox to submit your extra credit assignment.
Consider an income guarantee program with an income guarantee of $6,000 and a benefit reduction rate of 50%.
If fixed costs increase to $1200, what will happen to equilibrium price and quantity.
a profit - maximizing industry in a competitive market is currently producing 100 units of output. Illustrate what is average variable cost.
Illustrate what would you do shut down or continue to operate. Use hypothetical numbers to explain.
What are intellectual property rights? How are they different from property rights to physical assets? Why has digitalization been hazard to intellectual property rights?
The state of Minnesota is considering building a highway through undeveloped wilderness. The construction will take 1 year and the construction costs are estimated at $10 million. The annual routine maintenance costs are expected to be $1 million per..
Which partner has the comparative advantage in cake baking? Explain. Plot their combined PPC, including the number of cakes and pies at each of the three corners.
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