Answer:
Statement II and III
Explanation:
For Statement I
We know that in a perfect competitive market the profit is maximum where either Marginal Revenue = Marginal Cost, or the Price + Marginal Cost is the point defining the profit.
Therefore, firm having to exercise maximum power in market will produce more up till Marginal Revenue > Marginal Cost.
Therefore, statement I is false.
Statement II
For the time till when the marginal revenue is more than the marginal cost, more and more goods shall be produced to increase the quantum of profit.
as this will assure no losses up to the time where MR>MC.
Thus, statement II is true.
Statement III
If there is no cost of production then entire amount received for a good will be profit, accordingly till the time the marginal revenue does not fall to 0 the goods shall be supplied to consumers, as the entire amount received will be profit with no cost associated.
Thus, statement III is also True.
Answer:
disposable income minus consumption expenditure
Explanation:
Answer:
The correct answer is 56,500 units.
Explanation:
According to the scenario, the computation of the given data are as follows:
Sales for September = 57,000 units
As Beginning and ending inventory should be 50% of following month sales
So, Beginning inventory = 57,000 × 50% = 28,500
And Ending inventory = 56,000 × 50% = 28,000
So, we can calculate the units to be produce in September by using following formula:
Units produce in September = Sales for September + Ending inventory - Beginning inventory
By putting the value, we get
= 57,000 + 28,000 - 28,500
= 56,500 units
Weight per engine 22 pounds
Order processing cost $125 per order
Inventory carry cost 20 percent of the average value of inventory per year
Assume that half of lot size is in inventory on average (1,000/2 = 500 units).
Two qualified suppliers have submitted the following quotations:
ORDER QUANTITY SUPPLIER 1 UNIT PRICE SUPPLIER 2 UNIT PRICE
1 to 1,499 units/order $510.00 $505.00
1,500 to 2,999 units/order 500.00 505.00
3,000 + units/order 490.00 488.00
Tooling costs $22,000 $20,000
Distance 125 miles 100 miles
Your assistant has obtained the following freight rates from your carrier:
Truckload (40.000 lbs. each load): $0.80 per ton-mile
Less-than-truckload: $1.20 per ton-mile
Required:
a. Calculate the total cost for each supplier.
b. Which supplier would you select?
c. If you could move the lot size up to ship in truckload quantities, calculate the total cost for each supplier.
d. Would your supplier selection change?
Answer:
a. Cost of Supplier 1 : $6,214,300 per year
Cost of Supplier 2 : $6,147,840
b. Supplier 2 will be selected as it costs $66,460 less than supplier 1.
c. 1,818
d. No.
Explanation:
Supplier : 1 ; 2
Unit price : $510 ; $505
Annual Purchase cost: $6,120,000 ; $6,060,000
One time cost: $22,000 ; $20,000
Orders per year: 12 , 12
Order processing cost: $1,500 ; $1,500
Inventory carrying cost: $51,000 ; $50,500
Distance: 125 ; 100
Weight per load: 22000
Transportation: $19,800 ; $15,840
Total Cost : $6,214,300 ; $6,147,840
Annual Purchase Cost = Demand * Units price
Orders per year = Demand / Lot size
Inventory Carrying cost = [ Lot size / 2 ] * Carrying cost * unit price
Order processing cost = Number of orders * order processing cost.
c. Required lot size for truck : 40,000 / 22 ≈ 1,818
To select a supplier for engines, the total cost for each supplier is calculated based on various factors such as order quantity, unit price, tooling costs, distance, freight rates, order processing cost, and inventory carry cost. Supplier 2 is selected as the preferred choice due to its lower total cost. If the lot size is increased to ship in truckload quantities, the total cost for both suppliers changes, but the supplier selection remains the same.
To calculate the total cost for each supplier, we need to consider the order quantity, unit price, tooling costs, distance, freight rates, order processing cost, and inventory carry cost. By multiplying the order quantity by the unit price and adding the tooling costs, we can calculate the total cost. For supplier 1, the total cost is $488,000 and for supplier 2, the total cost is $487,625. Considering the lower total cost, supplier 2 would be selected. If the lot size is increased to ship in truckload quantities, the freight rates will change. With a truckload rate of $0.80 per ton-mile, the total cost for supplier 1 becomes $486,650 and for supplier 2 becomes $486,794. Therefore, the supplier selection remains the same, with supplier 2 as the preferred choice.
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Answer:
EOQ = 359 units
Number of order placed = 7.2 times
Explanation:
The Economic Order Quantity (EOG) is the order size that minimizes the balance of ordering cost and holding cost. At the EOQ, the carrying cost is equal to the ordering cost.
It is computed using he formulae below
EOQ = √ (2× Co× D)/Ch
C0- 500, Ch- 20, D- 2,580
EOQ= √ (2× 500× 2580)/20
=359.16
EOQ = 359 units
Number of order place d per year = Annual demand / order size
Number of order placed = 2,580/ 359
= 7.2 times
• a description of the career
• the history of this career: When was it created? What resources does it use? Was there new technology or
innovation involved?
• the training necessary for the career
• information about why the career interests you
This is an overview of each section of the selected career which is medicine, and one can then expand on those points to create one's paper.
1. Description of the Career - Medicine: Medicine is a field focused on diagnosing, treating, and preventing illnesses in humans. Medical professionals, such as doctors and surgeons, work to improve patients' health and well-being through various methods, including medication, surgery, and preventive care.
2. History of the Career - Creation, Resources, and Innovation: The practice of medicine dates back to ancient civilizations, with the earliest records found in ancient Egypt and Mesopotamia. Throughout history, medicine has evolved significantly, especially during the Renaissance when scientific advancements contributed to a better understanding of anatomy and diseases. Resources used in medicine include medical instruments, drugs, and diagnostic tools. Innovations like the stethoscope, X-rays, and recent advancements in telemedicine have revolutionized patient care.
3. Training Necessary for the Career: Becoming a medical professional requires extensive education and training. It typically involves completing a bachelor's degree, followed by medical school. Medical school includes classroom learning, hands-on clinical experience, and rotations in various specialties. After medical school, aspiring doctors undertake residency programs to gain practical skills in a specific field of medicine.
4. Why the Career Interests You: The opportunity to make a positive impact on people's lives and contribute to advancements in healthcare makes the field of medicine deeply intriguing. The constant evolution of medical knowledge and technology creates an environment of continuous learning and growth, which aligns with my passion for lifelong learning and helping others.
learn more about medicine: brainly.com/question/12646017
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Explanation:
can you explain us what to do so we can help you with that
(B) The accounts receivable balance at the beginning of Quarter 4 will be $1,150.
(C) The firm will collect a total of $2,000 in Quarter 3.
(D) The firm will have an accounts receivable balance of $2,300 at the end of the year.
(E) The firm will collect a total of $2,400 in Quarter 4.
Answer:
(E) The firm will collect a total of $2,400 in Quarter 4.
Explanation:
We will calcualte under two assumptions:
With this we conclude the following:
each quarter has 90 days
the sales from day 1 to 45 will be collected within the quearter while the sales from 46 to 90 will be collected on the next quarter.
so half the sales will be collected during the quarter as sales are done uniformly.
Collection on Q1
2,100 / 2 = 1,050
collection on Q2
1,050 + 1,600/2 = 1,850
collection on Q3
800 + 2,500/2 =2,050
collection on Q4
1,250 + 2,300/2 = 2,400