Considering the four main ways of assessing efficiency, which you studied in chapter 14 of the text, explain the main difference between the following three approaches: CEA: Cost-effectiveness analyses CUA: Cost-utility analyses CBA: Cost-benefit analyses
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Considering the four main ways of assessing efficiency, which you studied in chapter 14 of the text, explain the main difference between the following three approaches: CEA: Cost-effectiveness analyses CUA: Cost-utility analyses CBA: Cost-benefit analyses
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- Use the following marginal benefit and marginal cost functions for activity A: MB = 100 - 5AMC = 20 + 3A The fifth unit of activity Awill increase net benefits by 75. reduce net benefits by 35. decrease net benefits by 40. increase net benefits by 40. reduce net benefits by 75.Complete the following table and answer the accompanying questions. Control Variable Q Total Benefits B(Q) Total Cost C(Q) Net Benefits Benefits N(Q) Marginal Benefit MB(Q) Marginal Cost MC(Q) Marginal Net Benefit MNB(Q) 100 1,200 950 210 60 101 1,400 70 102 1,590 80 103 1,770 90 104 1,940 100 105 2,100 110 106 2,250 120 107 2,390 130 108 2,520 140 109 2,640 150 110 2,750 160 a. At what level of the control variable are net benefits maximized? b. What is the relation between marginal benefit and marginal cost at this level of the variable? multiple choice Marginal cost is much smaller than marginal benefit. Marginal cost is slightly larger than marginal benefit. Marginal cost is slightly smaller than marginal benefit. Marginal cost is much larger than marginal benefitFormulate a Tactical Decision- Making Model for below scenario. Kindly follow the format on the example below. Revenues & costs may be estimated. I. Scenario: "What to do with soon- to- expire (one month from expiry date) soft drinks?" Example Example: Step 1 What to do with small, ill-shaped apples. Define Problem 1. Sell to pig farmers. 2. Sell bagged apples (feasible). 3. Make applesauce (feasible). 4. Make pie filling. 5. Continue dumping practice. Step 2 Identify Alternatives Step 3 Bagged alternative: a. Revenue: $1.30 per bag (26c per pound) b. Cost $0.05 per pound Applesauce alternative: a. Revenue: $0.78 per can (65€ per pound) b. Cost: $0.40 per pound Predict Costs Step 4 Bagged Applesauce Compare Costs Revenue s0.26 s0.65 Cost 0.05 $0.21 0.40 $0.25 Net benefit Bagged: Differentiation Applesauce: Forward integration Step 5 Select Alternative Select bagging alternative because it is profitable and is more consistent with strategic positioning desired by producer.
- 1. Which of the following statements is false?a) A high-efficiency organisation would want to have fewer storage facilities to increaseresponsiveness but this practice too is known to reduce responsivenessb) Having many production sites increases cost and reduces efficiency but responsiveness tocustomer demands increases because of proximityc) A highly responsive organisation for example would want to have many storage facilitieslocated nearer to customers but this practice reduces efficiencyd) None of the aboveQUESTION 4 a. Explain any two process technologies for materials. b. Discuss any three factors that will help to determine the type of production process used. c. Distinguish between design capacity and effective capacity. Provide a brief example. d. Why is the capacity decision important? e. A regional bank training center has the physical ability to handle 1,300 participants. However, management personnel believe that only 1,100 participants can be handled effectively for most training sessions. The last training session, although forecasted to have 1,000 participants, resulted in the attendance of only 990 participants. Calculate the utilization and efficiency of the training facility.arrow_forward Question Asked Jun 23, 2020 1 views Management of Ben Services identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximumamount they are willing to pay for room and board is GHC 1800 and forentertainment is GHC 750. Although Ben is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000. i. If AG Travel and Tour wants to charge a package price, what is the highest price it can charge? ii. What profit will AG Travel and Tour make if it…
- What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)? Control variable Marginal Cost Marginal Net Benefit Q MC (Q) MNB (Q) 0 1 2 3 4 5 6 7 8 19 10 Total Benefits. Total Costs B(Q) 0 900 1,700 2,400 A 3,500 3,900 4,200 4,400 4,500 4,500 C(Q) 0 100 300 600 1,000 1,500 2,100 2,800 B 4,500 5,500 Net Benefits N(Q) 0 800 C 1,800 2,000 2,000 1,800 1,400 800 0 -1,000 Marginal Benefit MB (Q) 900 800 700 600 500 D 300 200 100 0 100 200 E 400 5.d 600 700 800 900 1,000 800 600 400 200 F -200 -400 -600 -800 -1,000Marginal analysis is one of the most useful concepts in economic decision making. Discuss and show examples including graphs to support your answer.1. COMPLETE AND COMPREHENSIVE SOLUTION ASAP
- Which does not come under Schroeder's decision-making category of process? (Select one) 1) Layout of the facility 2) Job design Stry 3) Quality inspection 4) The type of equipment and technologyProblem 19-13 There is a road between the suburbs and downtown. The road becomes congested at rush hour. As long as fewer than 100 people use the road at rush hour, the trip takes 30 minutes. When the 101st person enters the road, everyone has to slow down and the trip now takes 31 minutes. People value their time at $6 per hour (i.e., $0.10 per minute) and so a 30 minute trip costs $3. Instructions: Round your answers to two decimal places. a. The private cost of one of the 100 individuals using the road is $ . The total private cost of 100 people using the road is $ . The total social cost of 100 people using the road is $ . b. The total social cost of 101 people using the road is $ . The private cost of using the road for the 101st individual is $ . The external social cost of the 101st person using the road is $ .Case Study 1: Nancy is leading a Scrum project for her organization. The project is to create new software for the Accounting Department. She is meeting with Tom, the director for the accounting department and the project team members to discuss the requirements of the project. Tom, Nancy, and the project team have identified all the requirements that Tom would like the app to have, but now Nancy wants to organize the list of requirements in a prioritized view. Based on this scenario,What role does Tom play?What can the scrum team do to help Nancy and Tom at this point of the project?What is the list of requirements called?Who should be prioritizing the list of requirements in this scenario?Case Study 2: Jason is a project manager for his organization, and he’s been asked to lead an XP project. This project will create a new app to rate restaurants in an area based on how romantic the restaurant is for couples on dates. Jason is meeting with his organization’s client, Sara, to discuss…