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Anika [276]
2 years ago
10

Edgar, the production manager at a textile factory, has noticed a decline in the production capacity of the factory. He wants to

understand the reason behind this trend and make a decision on how to resolve the issue. In the context of rational decision making, which of the following is the first step that Edgar should ideally take?
a. Identifying and defining the problem
b. Computing the optimal decision
c. Generating alternative courses of action
d. Identifying decision criteria
Business
1 answer:
jek_recluse [69]2 years ago
4 0

Answer:

A. Identifying and defining the problem

Explanation: Before taking any action in a production environment one must be able to identify and define the problem.

Problem identification and defining is first approach to solving problems as it gives a clear picture of what and how the problem is,when it started and the possible threats it pose to the business entity.

When a manager wants to address a problem, he should first identify the problem,carry out steps that will help him or her to define what the problem is,through this he or she can be able to develop possible solutions.

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1. A) Because you don't want to be stuck living with your parents until you are 30

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Reason:

I took a test very similar to this a few days ago, and I am a straight-A student.

4 0
3 years ago
Read 2 more answers
10. Calculate the closing percentage of the face value for a $3,000 bond with a closing price of $3,165.
erma4kov [3.2K]

Answer:

A 105.5%,

Explanation:

6 0
2 years ago
Factors leading to the slow growth of demand for products in embryonic industries include all of the following EXCEPT: a. poorly
victus00 [196]

customer passion for the products

3 0
3 years ago
Assume a European company that manufactures decorative fountain pens. The firm is trying to decide whether or not to expand its
Wittaler [7]

Answer:

(a)

TC(q) [before expansion] = Fixed Cost + Variable Cost

                                              = 750,000 + 1.25q

TC(q) [after expansion] = (750,000 + 350,000) + 0.75q

                                      = 1,100,000 + 0.75q

(b)  (i) q = 600,000

TC(q) [before expansion] = 750,000 + (1.25 × 600,000)

                                          = 750,000 + 750,000

                                          = 1,500,000

TC(q) [after expansion] = 1,100,000 + (0.75 × 600,000)

                                      = 1,100,000 + 450,000

                                      = 1,550,000

Since expansion will increase total cost, profit will fall ceteris paribus. So firm should not expand.

(ii) q = 800,000

TC(q) [before expansion] = 750,000 + 1.25 × 800,000

                                          = 750,000 + 1,000,000

                                           = 1,750,000

TC(q) [after expansion] = 1,100,000 + (0.75 × 800,000)

                                      = 1,100,000 + 600,000

                                      = 1,700,000

Since expansion will decrease total cost, profit will rise ceteris paribus. So firm should expand.

7 0
2 years ago
A farmer needs 500 vats of fertilizer a week during the summer. He has a barn that can hold plenty of vats which cost around $1
Simora [160]

Answer:

option (c) $500

Explanation:

Data provided in the question:

Demand, D = 500 vats of fertilizers

Cost, C = $1

Ordering costs for a new order, F = $250

Now,

Economic Order Quantity = \sqrt{\frac{2FD}{C}}

on substituting the respective values, we get

Economic Order Quantity = \sqrt{\frac{2\times250\times500}{1}}

or

Economic Order Quantity = √250,000

or

Economic Order Quantity = 500

Cost of Economic Order Quantity = 500 × $1 = $500

Hence,

the answer is option (c) $500

5 0
3 years ago
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