The EOQ will remain the same
Explanation:
EOQ(Economic order quantity) is the commercial quantity terminology. The value of an efficient order is the optimal amount of the item to be ordered concurrently so that the combined annual production expenses and material transfer are reduced. The optimal lot size is also called as the EOQ.
In 1913, Ford W. Harris created this production planning pattern and was improved in the course of time. The model implies that the cost of production, purchasing, and holding remains constant.
The EOQ is the ideal request quantity for a business that minimises its overall cost for orders, receipts and inventory holdings. In cases where demand, purchasing, and holding costs remain constant with the period, the EOQ formula is usually applied.
In introducing the opportunity cost of time into the theory of consumer behavior, we find that, all else equal one should consume less of time-intensive goods.
Opportunity cost of time is actual cost of the time lost in performing one activity instead of another. In other words it is the loss of the time done in choosing an opportunity between the two.
One should consume less time intensive goods because it will save more time.
Theory of consumer behavior is the study of how the people decide to spend their money in the given choices to them according to the budget constraints and individual preferences.
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The law that governs the contract between the Garcia and home improvement is contract law.
Given that the garcia family hired home improvements, inc., a local construction company, to build an addition on their home.
We are required to find the name of the law that governs the contract between Garcia and home improvement.
The law that governs the contract between Garcia and home improvement is contract law.Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts may be different from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
Hence the law that governs the contract between the Garcia and home improvement is contract law.
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<u>Full question:</u>
GR8 Marketing Company and Brainfreeze Tunes, Inc., sign a document that states GR8 agrees to create a marketing campaign for Brainfreeze, which agrees to pay GR8 for the service. GR8 and Brainfreeze have...
a. an executed contract.
b. an express contract.
c. an implied contract.
d. a quasi contract.
<u>Answer:</u>
GR8 and Brainfreeze have express contract
<u>Explanation:</u>
An express contract is a deal whose sessions the participants have explicitly fixed out. This is additionally termed as a special contract. In an express contract, all the details would be explicitly stated. It necessity shows a proposal and complete acceptance and be revealed in an easy-to-understand way.
In this, the expressions are marked explicitly and correctly, and they are based on these terms slightly than the behaviors, activities, and obvious purposes of the parties. Any effort to change or modify the agreement is a counter-offer, not recognition of an express contract.