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The average cost = only the setup cost and there is no inventory holding cost. To satisfy the demand for period 1, 2 Producing lot 1 and 2 in one setup give us an average cost: = + The average cost = (the setup cost + the inventory holding cost of the lot required in period 2.) divided by 2 periods.
A financial calculator or business calculator is an electronic calculator that performs financial functions commonly needed in business and commerce communities [1] (simple interest, compound interest, cash flow, amortization, conversion, cost/sell/margin, depreciation etc.).
Production runs to replenish inventory are made at regular intervals; During a production run, the production of items is continuous and at a constant rate; Production set-up/ordering cost is fixed (independent of quantity produced) The lead time is fixed; The purchase price of the item is constant, i.e. no discount is available
In economics, average fixed cost (AFC) is the fixed costs of production (FC) divided by the quantity (Q) of output produced. Fixed costs are those costs that must be incurred in fixed quantity regardless of the level of output produced. =. Average fixed cost is the fixed cost per unit of output.
As any universal Turing machine can do what any other Turing machine can, a central calculator in principle has no advantage over a system of dispersed calculators, i.e. a market, or vice versa. [25] In some economic models, finding an equilibrium is hard, and finding an Arrow–Debreu equilibrium is PPAD-complete. If the market can find an ...
Qalculate! supports common mathematical functions and operations, multiple bases, autocompletion, complex numbers, infinite numbers, arrays and matrices, variables, mathematical and physical constants, user-defined functions, symbolic derivation and integration, solving of equations involving unknowns, uncertainty propagation using interval arithmetic, plotting using Gnuplot, unit and currency ...
But if the firm produces more units, the average cost incurred per unit will be lower as the fixed costs are spread over a larger number of units; the marginal cost is below the average cost, pulling the latter down. The efficient scale of production is then reached when the average cost is at its minimum and therefore the same as the marginal ...
CVP is a short run, marginal analysis: it assumes that unit variable costs and unit revenues are constant, which is appropriate for small deviations from current production and sales, and assumes a neat division between fixed costs and variable costs, though in the long run all costs are variable.