Answer:
Total cost per year = $1,801,860
Explanation:
Given:
Annual demand = 12,000 units
Ordering cost = $30 per order
Inventory holding cost = $3 per year
Order quantity = 1000 units
Cost per unit of the item = $150
Find:
Total cost per year
Computation:
Total cost per year = Purchase cost + Order cost + Inventory holding cost
Total cost per year = [12,000 x 150] + [12,000/1000 x 30] + [1,000/2 x 3]
Total cost per year = 1,800,000 + 360 + 1500
Total cost per year = $1,801,860
Answer:
B) The Law of Demand
Explanation:
The correlation between the volume demanded, and the price of a good is explained by demand law. As per this law, price and the quantity demanded have an indirect or inverse relationship. An increase or decrease in price results in quantity demanded moving in the opposite direction.
Should the prices of a product or service increase, its demand falls.
it is likely that John chooses this oil company because of their good services
According to the aggregate production function, GDP increases when a nation,
- improves its technology, A
- increases its stock of physical capital, K
- increases the human capital of its workers, H
<h3>What is aggregate production function?</h3>
An aggregate production function holds constant all other production factors, like as capital, natural resources, and technology, and connects the entire output of an economy to the total amount of labour engaged in that economy. Land, labour, capital, and entrepreneurial activity are the elements that make up aggregate production function.
A method for determining productivity and economic growth is the aggregate production function. Therefore, economists use it to gauge the efficacy of the final product and the quality of the inputs. The maximum output that can be produced given the quantity of the production elements is represented by the aggregate production function. Keep in mind that the following uses lower case letters for plant level variables and capital letters for aggregate variables.
Hence, According to the aggregate production function, GDP increases when a nation,
- improves its technology, A
- increases its stock of physical capital, K
- increases the human capital of its workers, H
To learn more about aggregate production function refer to:
brainly.com/question/15875528
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