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Reorder Point Techniques
Systems based on reorder points assume that demand is uniform and predictable and that there is no true identifiable time of need. Hence, stock must always be available. In practice, demand is discontinuous and follows a lumpy pattern. Stock is seldom depleted item-by-item, it is more common to deplete or order by lots or batches. This ordering in lots tends to magnify the requirements or lot sizes from the finished item to the component to the raw material levels.
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
what is exceptional demand
Input Substitution When the Input Price Change Isoquants and Isocosts and Production Function The minimum cost combination can be written as: - Minimum cost
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Demonstrate mathematically that the equilibrium condition MRS PB PA is the equivalent of the utility-maximizing rule MU AP A MU B PB .
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suppose your opponent is not playing her nash equilibrium strategy. Should you play nash equilibrium strategy?k question #Minimum 100 words accepted#
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