The operations vice president is adjusting the production quantities for the upcoming month of March for...
The operations vice president is adjusting the production quantities for the upcoming month of March for the coal company. Last month the price of a ton of coal was $45, and in February it increased to $64 per ton. According to the law of supply, what would be a rational response of the VP of operations in adjusting his coal output with the change in the market price?
| Reduce output and layoff workers. |
| Increase output and hire more workers. |
| Shut down 2 out of the 4 mining sections in the coal mine |
Homework Answers
Option 2. Need to increase the production capacity
According to law of supply, all other things being equal, as the price of a good increases, the supply of goods will increase and vice versa.
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The operations vice president is adjusting the production quantities for the upcoming month of March for...
QUESTION 13 The operations vice president is adjusting the production quantities for the upcoming month of...
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The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demanc requirements over the next 8 months as fol lows: 2,200 2,100 1,700 1,700 January February March April 1,500 1,5...
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QUESTION 13 The operations vice president is adjusting the production quantities for the upcoming month of March for the coal company. Last month the price of a ton of coal was $45, and it has now increased to $64 per ton. According to the law of supply, what would be a rational response of the VP of operations in adjusting his coal output with the change in the market price? a. Reduce output and layoff workers. b. Reduce output because...
The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demanc requirements over the next 8 months as fol lows: 2,200 2,100 1,700 1,700 January February March April 1,500 1,500 1,600 1,900 May June uly August Her operations manager is considering a new plan, which begins in January with 200 units of inventory on hand. Stockout cost of lost sales is $100 per unit. Inventory holding cost is S25 per unit per month. Ignore any idle-time costs. The plan...
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This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...
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