Answer: A. the firm could produce 3 more units of output if it increased its use of capital by one unit (holding labor constant).
Explanation:
The Marginal Rate of Technical Substitution(MRTS) is calculated as follows:
= Marginal product of labor / Marginal product of capital
= 1 / 3
Marginal product of labor = 1
Marginal product of capital = 3
This means that if one unit of labor is used, it produces 1 unit of output.
If one unit of capital is used however, it produces 3 units of output.
If a firm therefore used one unit of capital and kept labor constant, it could produce 3 units out output.
Answer:
The correct answer is a.
Explanation:
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Have a nice day!
Answer:
26 packages
Explanation:
Given that:
The demand D = 186 packages in a week
Standard deviation = 13packages
The lead time L = 1.5 weeks
Order quantity Q = 750 packages
The Confidence service Level = 0.95
At the service level (SL) if we find the P(Z) of the SL using Excel, we have:
P(Z) = NORMSINV(0.95)
P(Z) = 1.64
Thus;
the safety stock = Z × SD√L
= 1.64 \times 13 (1.224745)
= 1.64\times15.92
= 26.11156
≅ 26 packages
I believe the answer is D.
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