microeconomic impacts of the National Broadband Network (NBN). This report also explains how NBN will help businesses to implement innovative and efficient business processes to increase revenues‚ competitiveness and productivity that will further drive the economic growth of Australia. The report will briefly compare the impacts of NBN to financial services sector in Australia and how financial services sector can benefit from the implementation of NBN in long run. This report aims to cover the supply side
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Define productivity. How can it be measured? How can the productivity of an organization be increased? 2. What is the transformation process? Explain the transformation process in a restaurant. 3. How is a job shop different from the batch production process? 4. What are the differences between manufacturing and service operations? 5. What are the characteristics of a good product design? 6. What is service capacity? Which strategies can be followed for service capacity planning?
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molding compound which released easily from metal molds. Release-ease was a patented product and has brought Applichem steady revenues. They have multiple plants around the world to support their business. Applichem has done little research on production processes. Any process changes that have been implemented have been done so by plant managers. Recently Applichem has been faced with the difficult problem of allocating to its customers the capacity of its manufacturing plants (Jacobs & Richard
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Managerial Economics Case Study- Bajaj Auto Limited Introduction Bajaj Auto Limited was established in 1945 as a trading company‚ obtaining its license in 1959. •India’s one of the largest two-wheeler manufacturers and dominant players until 1990. •The two wheeler industry grew by 11.6%‚ being unit production increasing from 5.05 million to 5.64 million. • Identification of Problem. The market share of Bajaj declined from 49.3% in 1994 to 38.9% in 1999‚ though the industry’s growth
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Assignment- Please return by Monday February 23‚ 2015 no later than 5pm Chapter 5 Technical Question 1 The following table shows data for a simple production function. Capital (K) Labor (L) Total Product (TP) Average Product (AP) Marginal Product (MP) 10 10 10 10 10 10 10 10 10 10 10 0 1 2 3 4 5 6 7 8 9 10 0 5 15 30 50 75 85 90 92 92 90 - - a. From the information in the table‚ calculate marginal and average products. b. Graph the three functions (put total product on one graph and marginal and
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Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
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phase of industrial revolution where he tends to reason behind the enhancement of capital. In this context‚ he gave the concept of modern industrial enterprise‚ which according to him grew in three phases. That is‚ there were investments in the production facilities‚ mostly the ones with technological potential to produce economies of scale and the economies of scope‚ concepts which would be touched upon in the paper. Further‚ he argued that there were also increases investments in marketing and
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Department of Economics ECON 101 Quiz 3 09 August‚ 2011 Name:…………………………………………………………………………………. No:……………………………………………………………………………………… 1) In the short run‚ A) the size of the plant is fixed. B) all inputs are variable. C) all inputs are fixed. D) some firms experience increasing returns to scale. Answer: A 2) Points below a firm’s total product curve are A) both attainable and technologically efficient. B) neither attainable nor technologically efficient
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Taegu‚ Korea‚ Samsung started by exporting “dried Korean fish‚ vegetables‚ and fruit”. Samsung broke into the electronics field in 1970 with the production of its first black-and-white television‚ which were sold domestically in 1972. In 1974‚ Samsung began the washing machine and refrigerator production for which it is still well known. Mass production of the microwave oven began in 1979‚ followed by air conditioners in 1980 and VCRs in 1984. Over the years‚ Samsung has also won many awards‚ including
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The term least-cost solution does not describe one specific principle in economics. Least-cost solution covers a wide diversity of economical topics that help form an ultimate solution. The term can be introduced in the context of a firms aim and objectives e.g. "profit maximization". In many cases firms may have other objectives such as providing quality to customers and thus may adopt techniques such as total quality management (TQM). Organizations such as Banks often prefer to focus on providing
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