Answer:
<u>An 'increase in supply' means the supply curve has shifted to the right while an 'increase in quantity supplied' refers to a movement along a given supply curve in response to an increase in price.</u>
Explanation:
Answer:
Find the explanation below.
Explanation:
The name of my organization is Prime Plc. known for the production of confectionaries. The Production Department in my organization has been experiencing frequent equipment failures quite recently. A close investigation showed that the delays were caused by a breakdown of the sugar mills, mixers and, coating machines. This has resulted in delays in the production process. To improve these failures, I believe that the organization should:
1. Employ Technicians who can quickly carry out repair work on these machines when they breakdown instead of outsourcing the repair work for this would take a longer amount of time to get the machines up and running.
2. Introduce the periodic maintenance of these machines. Machines are subject to wear and tear, so I would suggest that the maintenance of these machines is carried out within intervals of three months.
3. Train the production personnel on the proper usage of these machines. Production personnel should be updated on current and effective ways of handling machines so as to guarantee their safety and longer use.
4. Make provisions for backup machinery and equipment. The organization would do well to purchase backup equipment especially for machines that the organization cannot do without so that in the event of an equipment failure, the production process would not be stalled.
When these measures are considered, there would be a significant improvement in the production department.
Answer:
PMT x {[(1 + r)^n – 1]/r}
Explanation:
The formula for calculation the future value of an ordinary annuity is given as :
PMT x {[(1 + r)^n – 1]/r} ;
Where ;
PMT = Payment amount ; r = discount rate
n = number of payments
For ordinary annuity, payment are made at the end of each period as opposed payment made at the beginning of the period for annuity due.
