The Assumptions of the Production Order Quantity Model Are Met

question 6

Multiple Choice

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units,setup cost is $50,holding cost is $12 per unit per year,the daily demand rate is 10 and the daily production rate is 100.What is the production order quantity for this problem?

• A)139
• B)174
• C)184
• D)365
• E)548

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Definitions:

Economic Growth

The increase in a country's output of goods and services over time, indicated by a rise in real GDP.

Poor Countries

Nations with low levels of economic productivity, low living standards, and low levels of human development indices compared to other countries.

Capital Production

The creation of goods or services using capital goods, contributing to the productive capacity of an economy.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods and services that can be produced with fixed resources and technology over a given period of time.