Afirm operating in a market economy has a strong incentive to be productively efficient and allocatively efficient because the former enables it to minimize production costswhile the latter ensures it of ample revenues. if a firm is productively and allocativelyefficient, it earns a profit; if it is not, it suffers a loss. would you expect the new and better machinery and equipment to be adopted more rapidly in amarket economy or in a centrally planned economy?

Suppose that a firm is considering moving from a batch process to an assembly-line process to better meet evolving market needs. what concerns might the following functions have about this proposed process change: marketing, finance, human resources, accounting, and information systems?

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?

Suppose you manage an upscale restaurant in new york city. would involve writing employee schedules and a list of things to do for the chef and other kitchen staff