On a Cold Winter Day, the Outside Temperature Is -5

question 31

Multiple Choice

On a cold winter day, the outside temperature is -5.0 °C while the interior of a well-insulated garage is maintained at 20.0 °C by an electric heater. Assume the walls have a total area of 75 m², a thickness of 0.15 m, and a thermal conductivity of 0.042 W/(m · C°) . What is the cost to heat the garage for six hours at these temperatures if the cost of electricity is $ 0.11/kWh? Note: 1 kWh = 3.6 × 10⁶ J.

• A)$ 0.18
• B)$ 0.44
• C)$ 0.61
• D)$ 0.35
• E)$ 1.09

Recognize the importance of reducing lot size to minimize cycle inventory.

Understand the concept and effects of volume-based discounts on ordering behavior.

Analyze the exercise of market power through pricing strategies like two-part tariffs for supply chain coordination.

Identify the impact of pricing strategies and forward buying on supply chain dynamics, including demand variability and inventory levels.

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Definitions:

Wage Differential

The difference between the wage received by one worker or group of workers and that received by another worker or group of workers.

Taxes

Mandatory financial charges or levies imposed by a government on individuals or organizations to fund public expenditures.

Transfers

Movements of resources, goods, or funds from one place, person, or entity to another, often without receiving something in return.

Households

Units of individuals living together, making decisions regarding consumption, savings, and investments, playing a key role in the economic system.