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In your own words, describe what EOQ is (direct quotations for the entirety of the explanation are unacceptable).
– What assumptions are made in calculating the economic order quantity?
– What production strategies should not employ an EOQ approach to ordering and why?

2. What are some key issues when implementing and operating an inventory control system?

3. “Those birds sure go through a lot of food,” Clara exclaimed as she saw the shopping list pad that had been pre-printed with the words “bird feed” at the top. She pondered a different approach to shopping for her feathered friends, reviewed her shopping records, and discovered the following. The price of bird feed has held steady at 89 cents per can. Each of the seven birds nibble their way through an average of one can per day, three hundred sixty five days a year. The price of gasoline has held constant at $3.50 per gallon and her pickup uses a gallon each way to the grocery food store. The cost to hold a can of bird feed is 10% of the unit price.

Using the information provided and the EOQ formula – determine the economic order quantity for bird feed. Round up your answer.

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Suppose firms’ marginal and average costs are constant and equal to C, and that the inverse demand curve is given by P= a-bQ, where a, b, > 0.

A) Calculate profit maximizing Q if firms are perfect competitors. B) Calculate profit maximizing Q if the market is served by a monopolist.

C) Calculate Nash Equillibrium quantities for Cournot duopolists. What is the market output?

D) Calculate Nash Equillibrium quantities for Bertrand duopolists. What is the market output?

E) Suppose now there are n identical firms in a Cournot model. Compute the Nash equillibrum quantities as a function of n. Also compute market output?

F) Show that monopoly outcome can be reproduced by setting n = 1 in (E); that the Cournot duopoly can be reproduced by setting n = 2 in (E) and that the Bertrand duopoly can be reproduced by letting n →” role=”presentation” style=”display: inline-block; line-height: 0; font-size: 16.94px; overflow-wrap: normal; word-spacing: normal; white-space: nowrap; float: none; direction: ltr; max-width: none; max-height: none; min-width: 0px; min-height: 0px; border: 0px; padding-top: 1px; padding-bottom: 1px; position: relative;”>?? INF.

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2.

Your company has recently appointed Encik Rahman to replace Encik Zainuddin, who quit as the project manager due to personal conflicts with some of your colleagues. Both of them possess different leadership styles.
(a)

Due to problems faced by your company recently, many of your colleagues were not focused on their jobs. Suggest what Encik Rahman can do to get them to focus on their daily tasks.

( 10 )
(b) As many projects have not progressed well, Encik Rahman needs to revamp the project teams and delegate work. Explain the reasons for him to delegate work to his subordinates and TWO ways of doing it effectively.

( 10 )

( Total / Jumlah: 20 )
Syarikat anda telah melantik Encik Rahman untuk menggantikan Encik Zainuddin yang sudah berhenti kerja sebagai seorang pengurus projek disebabkan oleh konflik peribadi dengan beberapa rakan sekerja anda. Kedua-dua mereka mempunyai cara gaya memimpin yang berbeza.
(a)

Disebabkan oleh masalah yang timbul sejak kebelakangan ini, ramai di antara rakan sekerja anda tidak dapat memberi tumpuan kepada kerja-kerja mereka. Cadangkan apa yang Encik Rahman boleh lakukan untuk mengembalikan tumpuan mereka kepada kerja harian mereka.
(b) Memandangkan banyak projek tidak menunjukkan kemajuan, Encik Rahman perlu membuat penstrukturan semula pasukan projek dan melakukan delegasi kerja. Terangkan sebab-sebab dia perlu melakukan delegasi kerja dan DUA cara yang efektif untuk menjalankannya.

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1. What is showrooming?

– Having part of a retail store dedicated to displaying large items, which would take up too much space to display on normal shelves

– Having sales associates conduct live demonstrations of products in-store

– When customers visit a retailer to research and see a product, but end up purchasing it somewhere else

– When a sales associate hits his or her sales goals, and starts celebrating in front of other people without sharing the wealth or even a slice of cake

2. The main difference between backward integration and forward integration, with regards to supply chain activities, is that backward-integrated retailers undertake retailing activities (i.e. selling to consumers), whereas forward-integrated retailers undertake manufacturing activities (i.e. producing products).

True / False

3. For food retailers, the power perimeter is best described as:

– The area of the store that offers food options, such as power bars, to athletes

– The high-foot-traffic, outer walls of the store

– Two times length, plus two times width

– The walking area of the store that purposely slows down customers

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