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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?
Change in consumer and producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -
explain the central problem of economy with production possibility curve?
Marginal revenue: Marginal revenue is the change in total revenue with respect to a change in quantity sold. That is, it is the change in total revenue that results from the s
Liberalisation of the Economy: Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic
Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected
explain about integrability problem
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
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use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour on an increase in immigration..
Consider the market for Kitty Litter. Assume this industry is purrfectly competitive and is presently in long-run equilibrium. Suppose people begin to prefer Dogs as pets and Cat
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