Quality is used to assesses the dimension of the products for reaching its fame among customers.
<u>Explanation:</u>
- The Product is said to be good only when it satisfies the best quality norms the quality is considered as the main dimension for purchasing the product.
- Quality is not considered as just a word but it contains many factors such as durability, reliability, aesthetics, conformance, price, serviceability, performance, and features of the particular product in all sorts of time with any sort of usage prescribed for it.
Answer:
The answer is "400 meals at 2.50 dollars a day".
Explanation:
Please find the complete question and the solution in the attachment file.
In this question, when we compare the MR value as well as the MC, the monopolist produces up to the point where MR>MC.
In this, it happens before 400 meals at 2.50 per day and, so "400 meal at 2.50 dollars a day".
When product designers use computer-aided design (CAD) software to produce technical drawings in three dimensions, they are using: Utility software
Answer:
Lead time needed is approximately 1 day
Explanation:
In this question, we are asked to calculate the maximum number of lead days needed by a manufacturer to give a supplier
We proceed as follows;
They want to be able to fully supply the customer at least 50 out of the 52 weeks.
Mathematically; service probability = 50/52 = 0.96 or 96%
At 96% service level value of Z = 1.75
Standard deviation of daily demand (σd) = 50 units
Safety stock = 100 units
Suppose lead time = L
Safety stock = Z × σ d × √L
100 = 1.75 × 50 × √L
=100 = 87.5 × √L
√L = 100/87.5
√L = 1.142857142
L = 1.142857142^2
L = 1.306122448
When firms maximize their profits, society's output will also be maximized is the concept of the 'invisible hand.' This was first introduced by Adam Smith in the mid 1700's.
