One method on optimizing a function is by finding the absolute extrema. It is done by having the optimal values continuous including the including the endpoints. I hope my answer has come to your help. God bless and have a nice day ahead!<span>
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Answer:
B. In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales.
Explanation:
JIT stands for Just in time management. It is an inventory management approach that advocates for the purchase of materials just when they are needed for production. In JIT, there is no storing of materials for use for future production. The purchase of materials is aligned with the production process.
The success of JIT is dependent on management ability to forecast sales volumes accurately. Management must work with reliable suppliers to ensure that materials are available when required. JIT lower's the cost of inventory management by eliminating the need to store huge quantities of materials. It reduces wastage by doing away with losses that arise due to the storage of bulk materials.
Answer:
The correct answer is: whenever they over- or under-allocate resources to a project.
Explanation:
A government is considered to be wasteful by the economists if it over-allocates or under-allocates resources on a project. Whenever resources are not efficiently or optimally allocated it is considered wasteful.
In case resources are over-allocated, the reason is given that the excess resources could have been used somewhere else.
In case resources are under-allocated, the reason is given that the given resources will not be able to provide the desired output.
Answer:
b. 6 units
Explanation:
Output Revenue Costs = Profit ( Revenue - Costs)
0 0 10 = -10
1 8 12 = -4
2 16 15 = 1
3 24 19 = 5
4 32 24 = 8
5 40 30 = 10
6 48 37 = 11
7 56 46 = 10
8 64 55 = 9
9 72 65 = 7
Note: The revenue is calculated by multiplying output by the market price of $8.
The firm should produce 6 units to maximize their profit which is $11.
Credit, job, be of the age 18