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Planned Order Releases - MRP System
In an MRP system, if gross requirements exceed the quantity on hand and on order, a net requirement results. Planned orders are created to equal or exceed the net requirements in order to create a balance between supply and demand.
Period
Each period refers to a future time. The time period, or time slot, may be a day, a week or a month. Another name for these time slots is time bucket. The size of the bucket will be discussed later.
Efficiency of exchange
Assume in the Solow growth model that s=.25, n=.02, d=.08, and f(k)=k^3. A) Assume that z=2. What is the steady state level of capital per worker and consumption per worker?
An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
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RATIONAL EXPECTATIONS AND ECONOMIC THEORY : Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic age
What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
How do you calculate marginal revenue, and monopolistic profit?
Question 1: ? deduce the causal factors behind technological developments in different cultures and during different periods of human history ? assess the basis of common cr
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