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Question:
Describe the meaning of ABC inventory control and on what key premise is this system based?
The finance department of Electric Corporation gathered the following information: The carrying cost per unit of inventory is Rs10, The fixed cost per order is Rs20,the number of units required is 30,000 per year, the variable cost per unit ordered is Rs2 and the purchase cost price per unit is Rs30
Required:
(a) Determine the economic order quantity (EOQ) (b) Determine the total number of orders in a year (c) Evaluate the time-gap between two orders (d) What modification is required in the basic EOQ analysis in order to cope with the problem of inflation? (e) What are the limitations of the EOQ model?
What caused the productivity slowdown? Observers have pointed to 4 factors--Oil prices, baby boom, increased problems of economic measurement and environmental protection expe
What is the difference between MRTS & MRS?
The Wealth of Nations of Modern Economies When the federal government uses expenditures to stimulate the economy, it changes not only the present but the future as well. Question
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
indifference curve and budget line
What is the benefit (main work) of economics in our life? Economics plays a very important role in development of a country. A country's economy shows the stability of that co
1. Consider an individual facing a wage rate w . There's a total of 100 hours available for work or leisure in a week. (a) Represent his budget constraint graphically (b)
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
Banking Infrastructure: An efficient financial system can influence the long-term growth through three important channels, namely: 1) increase in the proportion of saving tran
Average Total Cost (ATC): ATC is the total cost per unit of output. ATC = TC/y = (TFC + TVC)/y = AFC +AVC ATC falls sharply at the beginning of the production process because
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