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Question: The weekly demand for an item is 50 units. It is known that the holding cost per year is 20 percent of the unit price. A cost of RM40 will be charged on placing each order. That particular item costs the company RM150 per unit. Owning to high demand, the company's customers do not object to backordering and the backordering cost is RM5 per year. This company operates for 50 weeks a year.
(a) Calculate the Economic Order Quantity.
(b) Determine the maximum quantity of backorder.
(c) How long does a customer have to wait in order to get the desired item?
Discuss two factors that would increase demand for labor. (Hint: Recall that the demand for factors of production or resources is called a derived demand
Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia. Cypress River's sales vary seasonally; sales tend to be higher in the spring months than in other months.
Suppose a large firm is the price leader in an industry that is comprised of itself and a few other smaller firms. The large firm estimates the market demand for the industry’s (homogeneous) product to be QM = 81,000 – 200P, and it expects the smalle..
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Continuing from Exercise, the firm's factory sits on land owned by the firm that could be rented out for $30,000 per year.
Suppose a student has no more than t minutes to write an examination consisting of two questions, 1 and 2. He receives A points if he gets question 1 correct and B points if he gets question 2 correct. He knows that if he spends s minutes in question..
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A consumer is in equilibrium when
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