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Service levels in Supply Chain Management
Consider that a finished product is made up of five inventoried component parts. If the service level were 90 per cent or 0.9 for each item, then the probability of having all items in stock at any one time would be (0.90)5 = 0.60. In other words, four times out of ten the assembly foreman would not be able to complete an assembly! Hence a system where shortages are an inherent feature and not caused by 'someone's mistake'.
what are the concept of opportunity cost
1. The total demand (marginal benefit) curve for visiting the Great Barrier Reef is as follows: Price = 5000+100*Fish Biomass (tons per square mile) -10*Number of Trips. a. Do
Explain the factors influencing the value of PED and yED. PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closene
I need someone to do my quizzes it has 24 questions each. There are a total of 11 quizzes
1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
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How has the Haberler''s theory of opportunity cost an improvement over the classical theory of trade
prove that marginal utility of x=the price of commodity x.
Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose
a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this
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