Answer: Decrease
Explanation:
According to the Law of Demand, The quantity demanded for purchase of a commodity inversely varies with the price.
That is to say that "ceteris paribus" ( with everything being equal),When the prices of a particular good go higher, people will buy less of such commodity but will buy more, if the prices of the goods reduces.
We can say demand is elastic if quantity demanded for a commodity decreases with increase in price which will make people choose another lower substitute good eg, detergent, ice cream
Also if quantity demanded does not change much with increase in price , then it is referred to as Inelastic Demand for example necessity commodity such as gasoline.
Answer:
<em>MRP (Material Requirement Planning)</em>
Explanation:
Material Requirements Planning (MRP) is a calculation system for the components and materials necessary to produce goods.
All of this consists of <u>three principal steps</u>:
- stock of on-hand components and materials,
- recognize which added bits are required and,
- afterwards schedule their manufacturing or purchase.
Answer:
1495 filters are considered as safety stock.
Explanation:
d = 80 filters, std devd= 5, L = 14 days, std dev L= 2 days
Std dev dL = Sq rt ( Lσ d2 + d 2σ L2 ) = sq rt ( 350 + 25600) = 161 filter
z= 2.33 at 99% SL
safety stock = 2.33 X 161 = 375 filter
Reorder point = dL + Safety stock = 80 X 14 + 375 = 1495 filters
Answer:
Boyd will record Warranty Expense in the amount of $400 for the month.
Explanation:
Warraty expense is an obligation on the business because business idmliable to accept the claims of warranty. A estimated percentage of warranty expense is charges as an expense in each period.
Sales = $20,000
Warranty repair = 2% of Sales
Warranty Expnese = Sales x Warranty repairs percentage
Warranty Expnese = $20,000 x 2%
Warranty Expnese = $400
Answer:
Natural experiment
Explanation:
Natural experiment is the study of empirical, which comprise of the individuals who are exposed to the control as well as the conditions of the experimental , which are determined or evaluated by the nature or through other kinds of factors that are outside the person control.
The procedure of governing the exposures resemble the random experiment. This experiment are not controllable and are the observational studies. So, the event is naturally occurring, then it is an example of the natural experiment.
