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Q. Production Planning in demand forecast period ?
Long term production planning can assist the management in organising long term finances on practical terms and conditions. Study of long term sales is accorded greater importance as compared with short-term sales. Long term sales forecast facilitates the management to take a few policy decisions of huge importance and any mistake carried out in this could be very costly or different to be corrected.
Therefore, the complete success of an organisation usually is contingent upon the quality and authenticity of sales forecasting methods.
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ChoppinAxe is a little Swedish firm that produces wood planks and operates in a perfectly competitive market. Each firm in the market has the following total cost function:
Question: i) If X and Y are different processes producing the same commodity and the joint total cost (TC) is given by: TC = X 2 + 2Y 2 - 3XY Using Lagrange Multiplier,
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A firm is employing 100 hours of labor and 50 tons of cement to produce 500 blocks. Labor costs Rs 4 per hour and cement costs Rs 12 per ton. For the quantities employed MPL = 3 an
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Investment Investment is the process of increasing the productive capital stock of a country, or can be defined as the production of goods not for immediate consumption. T
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