Total cost tc - Study guides, Class notes & Summaries

SCM 300 Exam Questions with All Correct Answers 3 branches of supply chain & what they are responsible for - Answer-1.Procurement, (Purchasing): the branch of supply chain where deals happen, negotiations a for the best price on materials, equipment, goods, and services. 2. Operation: the branch responsible for efficiency, and operation help the organization to create and acquire high-quality products or services while using the fewest resources from the organization end. 3. Logistics: is...

ECON 251 Exam 2 Purdue Latest Version 100% Pass Budget Lines Line describing the limits to consumtion possibilities Budget line equation Income= (price of good x)(quantity of good x) + (price of good y)(quantity of good y) Utility Unit of happiness Marginal utility Additional utility of one more unit Marginal utility equation (Change in utility)/(change in quantity) Consumer equilibrium Maximizes utility Consumer equilibrium equation (Mu of x)/(P of x= (Mu of y)/(P of y) (big chart w q, u,...

Variable cost = - ANSWERUnit Variable Cost * Quantity Produced (Descriptive Model) Total Cost = - ANSWERFixed Cost + Variable Cost * Quantity Produced Also written as FC + VC * QP = TC (Descriptive Model) Logic suggests that variable cost is the unit variable cost times the quantity of item produced. - ANSWERTrue __________ has an influence on profit by predicting how many units of a product will be sold. - ANSWERDemand ______________produced is a decision option typically based on...

CFA Level I Vocabulary questions with complete solution 2024A priori probability - correct answer A probability based on logical analysis rather than on observation or personal judgment. Abnormal profit - correct answer Equal to accounting profit less the implicit opportunity costs not included in total accounting costs; the difference between total revenue (TR) and total cost (TC). Absolute advantage - correct answer A country's ability to produce a good or service at a lower absolute c...

Because of scarcity, every economic decision involves ~~> a trade off Ryan spends an hour studying instead of going for a bike ride. Assume studying and bike riding were Ryan's only options for that hour. The opportunity cost to him of studying is ~~> the enjoyment and exercise he would have received from bike riding Which of the following is a false statement about absolute and comparative advantage? ~~> It is possible for one country to have the comparative advantag...

BIT 3434 EXAM 1What is a computer model? - correct answer It is a set of mathematical relationships and logical assumptions implemented in a computer. What is business analytics? - correct answer c. It is synonymous to management science. What is a physical model? - correct answer c. It is a real representation of an object, such as a car, that is built to a smaller scale for evaluation and testing purposes. What is a mathematical model? - correct answer c. It is a model that uses m...

Cost - Materials, Energy, Wages, Transportation, Rent Quality - Design, Reliability, Consistency, Materials, Fabrics Speed - Delivery, On-Time, Innovation Time Flexibility - Customization, Size of Order, Design Competitive Priorities - Cost, Quality, Speed, Flexibility Productivity: - The ratio of outputs [What did I make?] to inputs [What was the cost?]. (Organizational Perspective) Value: - The ratio of "output purchased" divided by "inputs used to purchased" the product ...

SCM definition correct answers resources capabilities strategic SCM includes everything except correct answers productions scheduling Which is not a reason to manufacture in house correct answers insufficient capacity When would you use an external supplier correct answers better cost of control Tc manufacturing correct answers tc=fc + (vc * q) outsourcing correct answers tc= p*q Breakeven correct answers q= fc/(p-vc) total cost of ownership analysis correct answers extends ...

absolute advantage - Answer the ability to produce a good using fewer inputs than another producer average fixed cost (AFC) - Answer Total fixed cost divided by the number of units of output; a per-unit measure of fixed costs. AFC = FC/Q average total cost (ATC) - Answer Total cost divided by the number of units of output ATC = TC/Q or ATC = AFC + AVC average variable cost (AVC) - Answer variable cost divided by the number of units of output AVC = VC/Q budget constraint - Ans...

Peregrine Exam Questions and Answers Which of the following is NOT a strategic alternative to laying off employees? - Answer- implementing a restricted hiring policy downsizing the workforce lowering employment standards mandating reduced hours Lowering Employment Standards KJ built his taco truck out of $75,000,000 worth of titanium and duct tape. He uses $10.25 of organic bok choy, $6.75 of Wisconsin cheddar cheese, and $25.25 of foie gras in each taco. If he sells tacos at $475 each,...