PRODUCTION PLANNING TERM PROJECT | | | Course Lecturer: Prof.Dr.Selim Zaim Öğr.Gör.Dr.Hüseyin Selçuk Kılıç | | | | | Project Members: Elif Duygu Bağatırlar 150308045 Merve Ağaoğlu 150308026 İbrahim Ahıskalı 150308006 QUESTION 1 * Moving Average Method | | MA(2) | MA(3) | MA(4) | MA(5) | MA(6) | MA(2) | MA(3) | MA(4) | MA(5) | Month | Demand | one-step ahead | one-step ahead | one-step ahead | one-step ahead | one-step ahead | two
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of the situation to determine the way ahead on how he can turn the company around and re-establish his status in the industry. The intent of this proposal is to provide a recommendation on how the company can increase revenue‚ achieve ultimate production levels‚ determine how fixed and variable costs can be adjusted to maximize profits‚ suggest a mix of pricing and non-pricing strategies‚ and create barriers to entry into the market if possible. This proposal will also look into ways on how the
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revenue by it production‚ the firm will produce it. After the point where marginal revenue equals marginal cost of the marginal unit is greater than the revenue it brings in. Oligopolies are a market with a small number of sellers‚ where the sellers interact strategically with each other. Each player tries to guess which the competitor is trying to do. There are usually a small amount of large firms and they usually control the market. Competitive firms will use the firms marginal cost to produce
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The following paper will analyzes Thomas Money Service scenario data and make recommendations to the company’s increasing revenue. This paper will analyze and determine how to fixed variable cost that should to maximize the profits‚ achieve ideal productions levels‚ and identify methods to reduce costs. Recommendations should involve good decision making skills‚ planning‚ teaching‚ coaching‚ educating‚ and analyzing the current products and services can determine the future forecast for Thomas Money
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with the level of tile weekly production according to the following table: Tiles produced 1000 2000 3000 4000 5000 6000 7000 8000 Workers required 10 19 27 34 41 48 58 70 a. Calculate the average and marginal product of labor for each increment of 1000 units of production and present your results in table. In a sentence or two describe the results. b. If Art-tile receives $9 per tile‚ calculate the marginal revenue product for each level of production. c. If Art pays his workers
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Total revenue is maximized when selling an extra unit would cause your revenue to fall and selling a unit less would have also caused you to leave some revenue on the table rather than in your pocket. In other words‚ total revenue is maximized when marginal revenue is 0 and falling. Selling an extra
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Output (Units) Total Revenue ($/unit) Total Cost ($/unit) Profit ($) Marginal Revenue ($/unit) Marginal Cost ($/unit) 0 0 30 -30 50 1 50 80 -30 50 50 2 100 100 0 50 20 3 150 130 20 50 30 4 200 172 28 50 42 5 250 226 24 50 54 6 300 296 4 50 70 When the firm is producing a positive amount of output‚ profit is maximized when Q = 4‚ regardless of the fixed cost. The firm will produce another unit when MR > MC‚ and cut back production when MR < MC. The relationship between MR and MC is unaffected by fixed
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of the hottest items the engineering department has developed is adhesive tape that can be applied to walls and floors. Night Timers ’ chief engineer anticipates that the product will be sold in ten-foot rolls. At present‚ the company ’s maximum production capacity is 140‚000 rolls per year. The engineer believes the cost function to be described by: C = $50‚000 +0.25 Q Night Timers ’ president seeks to establish a price that maximizes profit. She thinks that the firm should be able to sell at least
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where marginal cost (MR) is equal to marginal revenue (MR) which is where the two graphs intersect. This is the ideal situation to a profit seeking company. Since price is greater than the Average Total Cost (ATC)‚ for each unit sold the profit per unit is simply the value by which the price exceeds the ATC. To maximize profit the firm should continue production in the short run at the quantity where MR=MC. A profit maximizing output means every unit of output represents greater marginal revenue
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University of XXXBUS 500B Fall 2014 Homework 2.2 Due Date: Sunday 09/28 Instructor: KittiTrade 1. Nation A’s production in 1 day Nation B’s production in 1 day Computers 100 Software 140 Computers 120 Software 150 Two nations can produce computers and software in the amounts given in the table above. Using the same amount of resources to produce two goods. Draw PPF curve and explain the reason of each question. a. Does either nation have an absolute advantage in producing
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