This 18th-century economist is Adam Smith who is hailed the Father of Economics. In his 1776 book "An Inquiry Into the Nature and Causes of the Wealth of Nations" Smith argues that society benefits in a free economy in which individuals are motivated by their own self-interest which unintentionally benefits society as a whole. Smith's aim using the term moreover was to attack the mercantilist system which was prevalent during his time.
Flyer would have to cut $2 per unit in order to meet the new target cost.
<h3>What is target cost?</h3>
The target cost of a product is the expected selling price of the product minus the desired profit from selling
First, we need to get the target cost
= Target Selling price per unit - Target profit per unit
= $48 - ($48 x 0.125)
= $48 - $6
= $42
Then, Flyer have to cut costs per unit
= Cost for product - Target cost
= $44 - $42
= $2
Hence, Flyer would have to cut $2 per unit in order to meet the new target cost.
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Answer:
D. $11,843.37
Explanation:
We will adjust by inflation the principal, and then calculate the interest.
Inflation is 0.025 every six month, and it is compounding interest.
Our rate will be for six month as well. Because TIPs pay interest semianually as well.
11,843.36903
The steps for finding the EOQ in a quantity discount model with variable H are:
- The optimal point is the quantity that yields the lowest cost
- Start with the lowest price
- If the minimum point is feasible
- Otherwise, compare total costs
What is the Economic Order Quantity(EOQ)?
The Economic Order Quantity is the ideal quantity of units a company should purchase to meet demand while minimizing inventory, costs such as holding costs, shortage costs, and order costs.
The economic order quantity formula assumes that demand, ordering and holding costs all remain constant.
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