Answer:
Direct, upward sloping
Explanation:
Supply refers to the quantities of goods or services that firms are willing to sell to the markets are a specific price. As per the law of supply, an increase in prices leads to an increase in the quantity supplied. Therefore, the relationship between the price and quantity supplied is direct. Firms prefer to supply more products to the markets at higher prices because they will make more profits.
The supply curve is a graphical presentation of the relationship between price and quantity supplied. The supply curve is upward sloping. It originates from the bottom left corner, showing how quantities vary along the curve at different prices. Quantity supplied increases as the price rise.
Answer:
C(T) = $730 + $25T
R(T) = $35T
T = 193 transactions
Explanation:
Given that:
C = cost ; R = revenue ; T = number of transactions
Amount paid per transaction = $25
Cost keeping office open = $730
Amount collected on each transaction = $35
(a) Find a formula that gives C as a function of T.
C(T) = Cost of keeping office open + (cost per transaction × number of transactions)
C(T) = $730 + $25T
(b) Find a formula that gives R as a function of T.
R(T) = (Amount collected per transaction * number of transactions)
R(T) = $35T
(c) Find the number of daily transactions that are needed to make the revenue $1200 more than the cost.
R = C + 1200
Substitute the value of R and C into the equation:
35T = 730 + 25T + 1200
35T - 25T = 730 + 1200
10T = 1930
T = 1930 / 10
T = 193 transactions
Answer: debit to Stock Investments for $55,080.
Explanation:
As this is an investment in another company, it will count as an asset which means that when it increases, the account will have to be debited. It will therefore be debited for $55,080 to show the investment.
Cash will decrease by the same amount which means that it will have to be credited because assets are credited when they decrease.
Dr Stock Investments $55,080
Cr Cash $55,080
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If a supply chain manager can reduce inventory while keeping the flow rate constant, little's law predicts flow time will go down.
Little's Law is a theorem that calculates the average number of items in a stationary queuing system based on an item's average waiting time and the average number of items arriving at the system per unit of time.
The law establishes a straightforward and obvious method for evaluating the efficiency of queuing systems.
The notion is extremely important for business operations since it states that the number of items in the queuing system is determined primarily by two essential variables and is unaffected by other factors such as service distribution or service order.
Hence, the answer is that the flow time will go down.
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