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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?
given that a=(4;2) and b=(5;11)determine the value of x in the following equation b=3x-1/2a
Determine the Returns to Scale Use the following production function and budget constraint to answer the questions below. Q = L + K 1000 = 2L +
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
Indifference curves present all possible combinations of market baskets that give the similar level of satisfaction to a person. Indifference Curves 1. Indifferen
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
THEORY OF REVEALED PREFERENCE: If consumer's taste and preferences do not change, then observation of her market behaviour or, actual act of choice between the commodity sets
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
Types of externalities
diagrammatically condition of consumer equilibirium
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
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