Suppose economy is equilibrium at point E. Now due to cold weather demand for ice cream decreases. Moreover, there is technological advancement and now firms can produce more ice creams in short time. Explain how will it affect demand and supply schedule and what will be the new equilibrium price and quantity? (5) Hint: May be either price or quantity ambiguous

Suppose economy is equilibrium at point E. Now due to cold weather demand for ice cream decreases. Moreover, there is technological advancement and now firms can produce more ice creams in short time. Explain how will it affect demand and supply schedule and what will be the new equilibrium price and quantity? (5) Hint: May be either price or quantity ambiguous

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.2SB

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K Kamal Fatehl production manager of Kennesaw Manufacturing, finds his profit at $30,800 (as shown in the statement below) inadequate for expanding his business. The bank is insisting on an improved profit picture prior to approval of a loan for some new equipment. Kamal would like to improve profit line to $40,800 so he can obtain the bank's approval for the loan. Sales Cost of supply chain purchases Other production costs Fixed costs Profit 280,000 182,000 39,200 28,000 30,800 % of sales 100% 65% 14% 10% 11% a) What percentage improvement is needed in a supply chain strategy for profit to improve to $40,800? What is the cost of material with a $40,800 profit? A decrease of 5.5% in supply-chain costs is required to yield a profit of $40,800, for a new cost of supply chain purchases of $172,000. (Enter your response for the percentage decrease to one decimal place and enter your response for the new supply chain cost as a whole number.) b) What percentage improvement is needed in a…
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