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O the supply curve shifts to the right
the supply curve shifts to the left
O there is a movement down along an existing supply curve
there is a movement up along an existing supply curve](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac71e036-e14d-4e68-ac81-c01ab3bdce2f%2Fa1bbe85b-9ec5-4df4-88cc-26845d936719%2F8vyv3cn_processed.png&w=3840&q=75)
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- If a 3% increase in the price of corn flakes causes a 6% decline in the quantity demanded, what is the elasticity of demand?Companies must chase the objective of matiching supply with demand in order to boost their overall performance. This objective is fully achieved when; A. Costs are minimised while lead time are maxiimised in the supply chain B. Costs are maximised while lead times ar minimised in supply chain C.Costs and lead times are maximesed in the supply chain D. Costs and lead times are minimised in the supply chainIf the cost of production increases, then the supply will Select one: a. Increase b. None of these c. No change in the supply d. Decrease
- What does the elasticity coefficient refer to? a Od It is the responsiveness of price to a change in quantity demanded It is price multiplied by the quantity of the product sold It indicates the responsiveness of quantity demanded to a change in price It is quantity demanded at any given price.You can sell 60 pet chia per week if they are marked as $1 each , but only 50 per week if they are marked $2 per chia. Your chia supplier is prepared to sell you 10 chias per weekif they are marked $1 per chia, and 20 per week if they are marked $2 per chia. At what price should the chias be marked so that there is neither surplus nor a shortage of chias?Answer the question based on the following supply and demand schedules in units per week for a product. Price Quantity Demanded Quantity Supplied $ 60 100 400 50 140 340 40 180 280 30 220 220 20 260 160 10 300 100 Refer to the above table. If demand increased by 100 units at each price level and the government set a price ceiling of $40, then there would be Multiple Choice a shortage. a surplus. no shortage or surplus. a decrease in supply.
- You have been made the purchasing manager of a local bakery that specialises in artisanal bread, pastries, and cakes. This bakery is steadily growing in the Durban CBD and is seeing increased growth month on month as a result of lowered Covid-19 regulations. Answer the following questions with application to your new role. The human resources function and the finance function are required for efficient purchasing and supply activities. Explain how these two functions depend on the purchasing function with application to the bakery.The bullwhip effect (also known as the Forrester effect) is defined as the demand distortion that travels upstream in the supply chain from the retailer through to the wholesaler and manufacturer due to the variance of orders which may be larger than that of sales. What causes the bullwhip effect in supply chain? Demand forecast updating: Members of the supply chain updating their demand forecasting Order batching: Members of the supply chain rounding up or down the quantity of orders Price fluctuations: Usually driven by discounting resulting in larger quantities of purchases Rationing and gaming: Buyers and sellers delivering over or under their order quantities An example of the bullwhip effect Let’s consider a retailer sells on average 10 ice creams per day in the summer season. Following a heatwave the retailer's sales increase to 30 units per day, in order to meet this new demand, the retailer increases their demand forecast and places an increased order on the wholesaler…Hau Lee Furniture, Inc., described in Example 1of this chapter, finds its current profit of $10,000 inadequate.The bank is insisting on an improved profit picture prior toapproval of a loan for some new equipment. Hau would like toimprove the profit line to $25,000 so he can obtain the bank’sapproval for the loan.a) What percentage improvement is needed in the supplychain strategy for profit to improve to $25,000? What isthe cost of material with a $25,000 profit?b) What percentage improvement is needed in the sales strategy for profit to improve to $25,000? What must sales befor profit to improve to $25,000?
- 3. Daily demand for tablets of amazon is normally distributed, with a mean of 100 and standard deviation of 30. The tablet supplier takes an average of 15 days to replenish inventory at Amazon. The standard deviation of the supplier lead time is 5 days. Amazon follows a "periodic review policy" with a review period of 30 days. Amazon is targeting a CSL of 98% for its tablet inventory. (a) What is the mean demand during lead time and review period? What is the standard deviation of demand during lead time and review period? (c) What is the safety (b) stock (in units) during lead time and review period?A retailer has two stores selling the same product. Weekly demand at store 1 is normally distributed with a mean of 100 and a standard deviation of 10, while weekly demand at store 2 is normally distributed with a mean of 150 and a standard deviation of 25. Demand at the two stores is independent. The retailer orders from a supplier with a 1 week lead time using a periodic review policy with a review period of 1 week, and targets a 95% service level. If the retailer wants to centralize inventory across the two stores, i.e., hold just one stock of inventory to serve demand from both stores, what should the order-up-to level be? PLEASE SHOW CALCULATIONYou are a newsvendor selling the New York Times every morning. Before you get to work, you buy the day’s newspaper for $0.90 a copy. You sell a copy of the New York Times for $4.0. Daily demand is distributed normally with a mean of 130 and a standard deviation of 20. At the end of each morning, any leftover copies can be sold to a recycling center for $0.10. How many copies of the New York
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