Managing production and delivery of an organization's goods or services more efficiently is the main goal of operations management.
How does managing production work?
Production management, usually referred to as operations management, involves the planning and oversight of industrial processes to guarantee that they proceed smoothly and at the necessary level. Both the service sector and the manufacturing sector use production management techniques.
What significance does production have?
One of the most crucial procedures in manufacturing is production, which is essential to understanding what it means to be a manufacturer. Without this activity, there would be no final goods produced and nothing to sell to clients.
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Answer:
Yes.
Explanation:
Given that,
Price of low-quality apples = $1 per pound
Price of high-quality apples = $4 per pound
Marginal utility of low-quality apples = 3 utils
Marginal utility of high-quality apples = 12 utils
Equimarginal:
(Marginal utility of low quality apples ÷ Price per apple) = (Marginal utility of high quality apples ÷ Price per apples)
(3 utils ÷ $1) = (12 utils ÷ $4)
3 = 3
Yes, Timmy is maximizing his utility as his equimarginal utility is same for both the goods as shown above.
Answer:
a.$4,704
Explanation:
Depreciation rate applicable for 2nd year as per MACRS 5 year class property = 32%
So, Irene cost recovery deduction = $21,000 * 32% * 70% = $4,704
Hence, the cost recovery deduction for Irene in 2020 is $4,704.
Answer:
If the company reworks the units, income will increase by $6,400 (compare to sell them as-is).
Explanation:
Giving the following information:
The company has 16,000 defective units.
<u>We will not take into account the original cost of the units. It is irrelevant to the decision making. It will remain constant in both options.</u>
Option A:
Effect on income= 16,000*2.8= $44,800
Option B:
Effect on income= 16,000*(8 - 4.8)
Effect on income= $51,200
If the company reworks the units, income will increase by $6,400 (compare to sell them as-is).
Answer:
The correct answer is C
Explanation:
Neo-classical economists is the one who believe or perspective is on the importance of the aggregate supply which should be for long run. And its first and foremost concern is that to maximize the personal satisfaction.
He emphasize or focus on the importance of supply in order to determine or evaluate the macroeconomy size which should for the period of long run.