The management is first assumed to desire to produce as much output as possible in order to maximize profit. Another supposition is that the company may improve output by employing more input and that higher output equates to more profits.
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What are the production possibilities, frontier model?</h3>
The graph known as the Production Possibilities Frontier (PPF) illustrates all the possible output combinations of two items that can be created with the resources and technologies currently in use. The PPF effectively expresses the ideas of choice, tradeoffs, and scarcity.
Frontier of Assumptions for Production PPF's first presumption is that the current technology setup or infrastructure will not change. The second presumption is that it only compares two goods or services that make use of the same resources.
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Explanation:
The journal entries are as follows:
On July 1
Prepaid Insurance A/c Dr $20,700
To Cash A/c $20,700
(Being prepaid insurance is paid)
On December 31
Insurance expense A/c Dr $
To Prepaid insurance A/c $1,110
(Being the insurance expense is recorded)
The insurance expense is shown below:
= $20,700 ÷ 3 years × 6 months ÷ 12 months
= $3,450
Answer: B. 1023, 1500, 2000}
Explanation:
The Optimal solution should contain the set of quantities that would require the lowest no. of orders to achieve a discount in a class.
1,023 is quite close to the lowest amount required of 1,000 in the 1,000 to 1,499 range.
So are 1,500 and 2,000.
Option D can also work but it has too many order quantities and will inflate the price.
The Optimal Solution therefore has to be from this option.
