The main objective of a supply chain is to maximize the overall value created. Briefly describe the importance to implement such objective across the supply chain rather than to individual member of the supply chain.
Q: Determine the returns to scale for the following production functions. a) ? = K + 7L b) ? = KL3
A: Return to scale:- Returns to scale is a phrase that describes how proportionally fluctuations in…
Q: Determine whether each activity will increase a worker's human capital. Will increase human capital…
A: In economics, human capital refers to the abilities and capabilities of the human resource in the…
Q: What was the primary benefit of a single European currency? a elimination of confusion for…
A: A "single currency" is a term used to describe a unit of money that is used by more than one nation:…
Q: Over the last 10 years, price of new models of smart Phones increased by 25%. At the same time, the…
A: The Law of demand states that there is an inverse relationship between the price of the product and…
Q: car lasts approximately ten (10) years with only minor maintenance (oil, tires, brakes), why isn’t a…
A: If you buy a new car from showroom you pay the 100% price but as soon as you take the car out of the…
Q: In a time of crisis where there is a pandemic, policymakers try to encourage economic activity by…
A: During pandemic situation , alomost every nation have been affected by the covid-19 and the…
Q: arold's MPC is .70. Harold has just received a birthday card with $100 inside. How much will Harold…
A: Marginal propensity to consume (MPC) measures the change in consumption due to change in income.…
Q: Why is it needed to maintain Social Graces through certain unwritten guidelines that maintain the…
A: Social graces can be defined as a skill used for dealing with people and society. In order words it…
Q: Suppose the exchange rate between the U.S. dollar and the British pound changes from 1.226 to 1.234…
A: Answer: The exchange rate between the U.S. dollar and the British pound means the number of dollars…
Q: Two companies, Klaren Electronics, a monopoly, and the Yarn Barn, a perfectly competitive firm, are…
A: Monopoly Market: The monopoly market is the market where a single seller or firm dominates the…
Q: Can you please answer all the question A through H.
A: A price taker is an individual/ firm with zero commands over the costs of labor and products sold…
Q: Discuss the standardization in relation to mining industry
A: It is the creation of systems and procedures to ensure that the actions performed over the course of…
Q: uppose A firm uses labour, L and capital K, to produce a single product, X. capital is fixed but…
A: When MC = AVC, we know that MP = AP MP = dX/dL = - 0.6L2 + 36L + 1620 AP = X/L = - 0.2L2 + 18L +…
Q: The economy of Fantasia produces only 2 goods namely Shoes and Computers. The total production and…
A: The gross domestic product implicit price deflator, often known as the GDP deflator, is a metric…
Q: what is the concept of demand
A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…
Q: Economist B believes that if tax rates are cut, tax revenue is likely to fall. This economist most…
A: if B believes that if tax rates are cut, tax revenue is likely to fall then then it mjust be related…
Q: An economist estimates that a market has a demand curve of the form P = 26 - (0.867) Q and a supply…
A: Given Demand equation: P=26-0.867Q…
Q: With the coronavirus vaccine, your decision to get vaccinated provides not just a benefit to…
A: The direct benefit of getting vaccinated against COVID 19 is protecting us from diseases. Secondly,…
Q: Mark can work up to 80 hours each week at a pre-tax hourly wage of $20 but faces a constant 20…
A: The budget line is downward sloping, indicating a tradeoff between income earned and the amount of…
Q: Answer the next four questions after completing the cost table below: Quantity TC MC AFC AVC ATC 0 1…
A: The measure that depicts expenses incurred by business for carrying out day to day expenses is known…
Q: In cost plus regulation, regulators calculated the average cost of production, added in an amount…
A: Cost-plus regulation is the term for government control over a business that determines the price a…
Q: Decreasing the number of periods in a moving average will produce: A.decreased sensitivity to…
A: The oscillations of the economy that occur between times of economic expansion (growth) and periods…
Q: What macro economics
A: Meaning of Economics: The term economics refers to the situation under which there remain…
Q: Match each argument for protectionism with the best counter-argument. Protectionism helps new…
A: Protectionism is the policy of protecting domestic industries against foreign competition by means…
Q: 20 Net Capital Outflow 10 -5 8 9 -15 -10 0 5 10 NET CAPITAL OUTFLOW (Billions of dollars) 15 20 NCO…
A: Net capital outflow (NCO) is the net progression of assets being contributed abroad by a country…
Q: Making a large number of goods that are the same O inflation mass production corporation deflation
A: A decrease in the average price level of all goods and services over time in a particular economy is…
Q: Mays and McCovey are beer-brewing companies that operate in a duopoly (two-firm oligopoly). The…
A: Profit maximizing quantity is such quantity where marginal revenue is equal to marginal cost.
Q: 3. An economy shows the following features Consumption, C = 50 + 0.9Yd Tax Revenue, T = 100…
A: Answer: Given, Consumption, C = 50 + 0.9YdTax Revenue, T = 100Investment, I = 150 – 5iGovernment…
Q: “A case of a start-up is going to be provided.” What are pains, gains and customer jobs in this…
A: Value of Customers Customer value is the measure of a product or service's value to a customer in…
Q: Explain the Budget Cycle enumerating the four (4) phases and the steps for each process.
A: Introduction A budget is a value that sets the monetary value of all future activities and course of…
Q: s -2.5, the elasticity of demand for business computers is -.90, and the elasticity of supply or…
A: At the point when supply and demand are out of equilibrium, making a market inefficiency, a…
Q: Why is there so much informal finance in the Asian countries but not in the industrial countries?
A: Informal finance: It refers to a system under which money lenders or private owners offer money or…
Q: Short-range forecasts tend to ________ longer-range forecasts. A. deal with more comprehensive…
A: Forecasts for the short term are made using data that has been seen, extrapolated, and how systems…
Q: 1.Explain the role of government in social responsibility in terms of how governments and businesses…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 1. Wages of bus drivers increase. At the same time, incomes of consumers generally increase. How…
A: According to the question, it is given that : Wages of bus drivers rises. At the same time, incomes…
Q: n the design of a jet engine part, the designer has a choice of specifying either an aluminium alloy…
A: Given information: Weight of aluminium casting/unit = 1.2 kg Cost of making aluminium casting = $.…
Q: Consider the standard IS-LM model from On a graph, show how output, the real interest rate, and…
A: The IS-LM model shows how aggregate markets for real goods and financial markets interact to balance…
Q: Please calculate the unemployment rate given the following information: Please round to two…
A: Unemployment rate is the ratio of unemployed people to the total number of people in the labor…
Q: A company borrows $25,000 for 3 years at an interest rate of 7%. How much must it repay in a lump…
A: Given: The principal amount is = $25,000 Time period = 3 years The interest rate is = 7% To Find:…
Q: A firm is in a perfectly competitive industry where the market price for its product is $32 The…
A: Given: Total Cost = 1225+25Q+0.01Q2 Price of Product =$32
Q: Runer has donated $500,000 to endow a university professorial chair in Bohemian Studies. If the…
A: The amount of donation was = $500000 The interest rate earned by the money = 8.5% Withdrawn made for…
Q: The gestation period between sowing crops and understanding income after the agricultural produce…
A: The aforementioned statement is true. Farmers require cash to pay for personal expenses such as…
Q: 3. a) How would economic contraction brought about by Covid - 19 slowdown be represented using…
A:
Q: Which of the following accurately describes the phenomenon of crowding out? government…
A: Aggregate demand is composed of consumption spending, investment spending, government purchases and…
Q: We can produce widgets with two inputs – labour and capital. The two inputs are perfect substitutes.…
A: Inputs of production refer to the various inputs that are used in the process of production of a…
Q: Discuss whether or not all govrnments will have the same economic aims
A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…
Q: Please identify each of the following the statements as true/false/uncertain and support your claim…
A: Nominal interest rate It is that rate in which is the real interest rate and inflation. Thus…
Q: Multiple Choice 15. 10
A: The marginal utility of the third unit of X
Q: STEADY AS SHE GOES AFFIL BALANCED BUDGET THE ECONOMY Reprinted with permission from The Detroit News…
A: Government’s budget depends on revenue and spending.
Q: omputers is -.90, and the elasticity of supp or computers for both purposes is 1. per-unit tax of…
A: Deadweight loss alludes to a financial shortcoming made by a lopsidedness in organic market.…
Supply chain
Step by step
Solved in 2 steps
- a) i)Explain difference between; ii,Microeconomics and macroeconomics iiiPositive and Normative economics b) Given the following demand and supply functions as; i)Find the price elasticity of demand and price elasticity of supply at the equilibrium point. ii)Based on the values obtained from Price elasticity of supply in (i) above, what advice would you give to the producer if he is to increase revenue? iv)Using illustrations, distinguish between Minimum and maximum price v)Assuming the government, set the price at 45shs, determine whether its minimum or maximum price, and state the surplus or deficitHow do I illustrate this?the degree of change in demand or supply due to the change in its determinants
- Define MARKET FACTORS?Select the number of the question and the letter to indicate the answer you consider correctfor each question. Answers to all questions are to be recorded on the answer sheet. (Pleasenote - Do not submit the full question with a circle answer. ONLY the number and theletter).1. The Law of demanda. applies to final consumer goods but not to the productive resources purchased bybusiness firms.b. tells us how much of a good people want, but not necessarily how much of that good theyare willing to pay for.c. tells us that when the price of a good falls, quantity demanded will increase.d. applies only to goods that are not absolute necessities. 2. The law of supply states that all other things remaining the same:a. as the price of a good increases, supply of the good will increase.b. as the price of a good increases, the quantity of the good supplied willincrease.c. as the price of a good increases, demand for the good will increase.d. as the price of a good increases, the quantity of the…An endogenous variable is a variable explained by an economic model. An exogenous variable is a variable that is taken as given and is not explained by an economic model. True O False
- When goods are called homogenous. What does this actually means?Graphically demonstrate how the following economic events influence (ceteris paribus) the relevantsupplyfunction. Label your axes, and specify the market you are discussing. (a) Strong profits in the market for cyber security attract new firms. (b) Low-cost energy reduces the expense of producing and storing ice creamCan you identify and explain your family’s interaction in the market for factors of production and your family’s interaction in the market for goods and services.
- What is seperating equilibrium? Small answer with an example and diagram.PLEASE FILL IN THE CHART BELOW FOR THE ARTICLE!! Microeconomics For the article, write the number of the graph that best describes what happened. Fill in only the appropriate boxes in each chart for each article and be sure and indicate if it is an increase or a decrease. Japan Faces Butter Meltdown Japanese fans of cake, buttered toast and Hollandaise sauce may need to start hoarding soon. The island nation is facing another likely shortage of butter this fiscal year, according to a report by the Japan Dairy Association. It’s the second year of butter shortages that last year left supermarket shelves dry , amid tight import controls and falling domestic production of raw milk. Shortages are usually most acute near the Christmas season when consumers buy cakes. The JDA estimates a 7,100 ton shortage of butter in the year that started in April. The organization estimates domestic demand will rise 0.9% on year to 74,700 tons. Also fueling the shortages is a long-term fall in raw milk…What is the connection between functionalism andthe concept of equilibrium?
