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The Simplex Method
In the graphical solution the optimum solution is always associated with a corner (or extreme) point of the solution space. The simplex method is based fundamentally on this idea. It employs an iterative process that starts at a feasible corner point normally the origin, and systematically moves from one feasible extreme point to another until the optimum point is eventually reached.
There are two rules that govern the choice of the next extreme point in the simplex method.
1) The next corner point must be adjacent to the current one.
2) The solution can never go back to a previously considered extreme point.
Characteristics of standard costing 1) Flow of information : in a standard costing system cost information flows in a straight forward manner as material is requisitioned and
i want to get the answer for exercises 2.1 and 2.2 on strategic and tactical decisions
companyXYZusesthe job oder costing system.
the applicability of standard costing in modern manufacturing environments in volatile environments
Explain Skimming pricing It is one of the most commonly discussed pricing method is the skimming pricing. This pricing method to the firm's desires to skim the market by sellin
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Q. Show the process of Pricing during introduction? Pricing during introduction: in pricing a new product generally two kinds of strategies are suggested viz. a) Skimming p
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