Individual and market supply uppose that Sam and Teresa are the only suppliers of ice cream cones in a particular market. The following table shows their monthly supply hedules: Price Sam's Quantity Supplied Teresa's Quantity Supplied (Dollars per cone) (Cones) (Cones) 1 2 4 6 3 6 8 4. 7 10 8 11
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Please give a detailed solution with an explanation with a typed answer. For the graph make sure it is readable, visible, and label each of the x and y points/coordinates as well for both lines.
Market supply = Teresa's supply + Sam's supply
Market supply schedule is as follows.
Price | Sam's Supply | Teresa's Supply | Market supply |
1 | 0 | 3 | 3 |
2 | 4 | 6 | 10 |
3 | 6 | 8 | 14 |
4 | 7 | 10 | 17 |
5 | 8 | 11 | 19 |
Step by step
Solved in 2 steps with 1 images
- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.Week 1 2 3 4 5 6 7 8 Retailer 110 110 190 190 310 310 410 410 Manufacturer 220 380 620 820 Supplier 600 1,440Consider a three-firm supply chain consisting of a retailer, manufacturer, and supplier. The retailer's demand over an 8-week period was 110 units each of the first 2 weeks, 190 units each of the second 2 weeks, 310 units each of the third 2 weeks, and 400 units each of the fourth 2 weeks. The following table presents the orders placed by each firm in the supply chain. Notice, as is often the case in supply chains due to economies of scale, that total units are the same in each case, but firms further up the supply chain (away from the retailer) place larger, lessfrequent, orders. WEEK RETAILER MANUFACTURER SUPPLIER 1 110 220 600 2 110 3 190 380 4 190 5 310 620 1420 6 310 7 400 800 8 400 a) What is the bullwhip measure for the retailer? The bullwhip measure for the retailer is ______. (Enter your response rounded to two decimal places.) b) What is the bullwhip measure for the manufacturer? The bullwhip measure for the…
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- McMillan Sugar Limited is a supplier of sugar and other derivatives. The company wasestablished in 1931 in Eastern Europe and has since expanded to other parts of Europe, Asiaand America. The company has been growing steadily. From 1940 to 1985, the companyregistered 1.5 Trillion US dollars in revenues. These revenues were mainly generated throughthe genius design of its supply chain. The company managed to secure a constant supply ofsugar cane by co-opting major sugar cane producers (farmers) to become shareholders in thecompany. This enabled the company to control the inflation of sugar cane price. Indeed, themajor farmers were not willing to increase the price of sugar cane, which would have anadverse effect on the company in which they were shareholders. McMillan Sugar Limitedbecame a leading brand in the sugar industry and in 2003 it was listed as the best performingcompany in the Eastern Europe. This success came as result of various strategic decisions.Firstly, the company…Describe the supply chain for your university or college.Who are the suppliers, producers, and distributors in thissupply chain? Are there different supplier tiers? Howwould you evaluate this supply chain? Does inventory evenexist, and if it does, what form does it take?The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00