The characteristics is its divisibility: money can be divided into smaller parts and the sum of those parts has the same value as the original money. Here we see that different people have the same amount of money in different forms.
Other characteristics of money are its durability, transportability and the resistance to being faked.
Answer:
Explanation:
Annual demand (D) = 20000 units
Number of days per year = 250
Demand rate(d) = D/number of days per year = 20000/250 = 80 units
Production rate(p) = 655 units
Set up cost(S) = $1800
Holding cost (H) = $1.50
A) Optimum run size(Q) = sqrt of {2DS / H [1-(d/p)]}
= sqrt of {(2x20000x1800) /1.50[1-(80/655)]}
= Sqrt of [7200000/1.50(1-0.1221) ]
= sqrt of [72000000/(1.50 x 0.8779)]
= sqrt of (7200000/1.31685)
= Sqrt of 5467593.1199
= 2338 units
b) Maximum inventory ( I - max) = (Q/p) (p-d) = (2338/655)(655-80) = 3.5695 x 575 = 2052.46 or rounded off to 2052 units
Average inventory = I-max/2 = 2052/2 = 1026 units
C) Number of production setups per year = D/Q = 20000/2338 = 8.55 or rounded up to 6
d) optimal length of production run = optimal run size /production rate = 2338/655 = 3.56 or rounded up to 4 days
Answer:
Benefits from related & unrelated diversification.
Explanation:
Firms' benefit(s) from related diversification :
- Building & developing market power - By sharing the related diversification going on in entire industry.
- Sharing activities & market linkages with other businesses - Associated diversification implies forward & backward linkages.
Firms' benefit(s) from unrelated diversification :
- Leveraging & enhancing different core competencies, USP - By Focusing on self paced unique diversification
- Creating a different ostentation brand - Creating a strong brand, capable of becoming a market leader, rather than market follower
Key concepts explaining firm success or failure from either diversification are implicit within above explanation.
Answer:
c. variable product and variable period cost from sales.
Explanation:
Contribution Margin is obtained by subtracting the total variable costs from the sales. This is also known as direct costing. Deducting fixed expenses from the contribution margin yields profit . Contribution margin is used in various ratios such as the contribution margin ratio and break even sales is also determined by using it sometimes. Contribution margin is a tool for managers as sales figures guide cost figures. The variable cost of goods sold varies directly with sales volume and the influence of production on profit is eliminated.by deducting only the variable product costs and not the variable period costs we get gross contribution margin. After deducting the variable period costs we get the contribution margin.
Answer: Option (B) is correct.
Explanation:
Correct option: Decreasing marginal product.
Marginal product is the change in the level of output, when there will be an extra input employed in the production of a certain commodity.
So, Marginal Product = 
Where,
Q = Output
I = Input
Marginal product of 1st bag = 500
Marginal product of 2nd bag = 
= 300
Marginal product of 3rd bag = 
= 100
∴ From the above calculations, we can seen that as we employed one more bag of seeds as a result marginal product goes on diminishing.
Hence, Joan's production function exhibits decreasing marginal product.
