Answer: Managers and workers can view operational activities from a customer's perspective
Operation Managers can better ensure that the operational capabilities they create are consistent with the firm's strategy
Explanation:
Supply chain operations refers to the structures, systems, and processes that are put in place for the execution of the flow of goods and services from the supplier to the customer.
The outcomes when a manager views supply chain operations as a collection of processes rather than a collection of departments or functions include:
• Managers and workers can view operational activities from a customer's perspective.
• Operation Managers can better ensure that the operational capabilities they create are consistent with the firm's strategy.
Answer: 16 units more than social optimum.
DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96
Explanation:
Q=1200 - 4P and Q=-240 + 2P
In a free market quantity demand =quantity supplied
1200 -4P = -240 +2P
P =240
Sub P
Q* = 240
Socially optimal quantity is
Marginal social benefit (MSC)= marginal social cost(MSC), including external damage =MEC
MPC= marginal private cost =inverse of supply function
MPC = (1/2)*Q + 120
MEC=12
MSC =(MPC +MEC) = (1/2)Q +120 +12
MSC= MPB where MPB is marginal private benefit = inverse of demand functn
MPB = 300 -(1/4)Q
(1/2)Q + 132 =300 - (1/4)Q
Q° = 224
Difference btw Q* & Q° = 16 units more than social optimum.
DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96
174=(1+455)c
c=174/456
c=0,3815789474
Answer:
The opportunity cost = $2.5
Explanation:
Given:
You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the building in each use is $2,000; $3,000; $4,000; and $5,000, respectively.You decide to open a hardware store.
<u>Question asked:</u>
The <u>opportunity cost of using this </u><u>building for a hardware store</u> ?
<u>Solution:</u>
As we know:
What you sacrifice = Value of a cafe + Value of a craft store + Value of a bookstore
= $2000 + $3000 + $5000 = $10,000
What you gain = Value of a hardware store
= $4000
Thus, the opportunity cost of using this building for a hardware store is $2.5
Answer:Lack of Feasibility studies
Explanation:
He might experience obstacle if he choose not to understand the area and its demand by the people around the selected area.
Secondly is lack of capital to start up the business.
