When you say “In a situation where we are manufacturing several products, all of which use the same limited resource, then we need to decide on how best to use the limited resource in production.” how best, meaning maximising profit?
Hello Sir, The solution in the free notes for example 2 is different there they have taken only material cost as the variable cost and other cost i.e. labour & other variable costs as fixed cost. Is it because they have mentioned in the question that “in the short-term only material costs are variable”? Is the solution behind the notes for example 2 wrong??
The video is working fine. Have you tried again since? If you are still having the problem please post in the ‘Technical Problems’ forum and admin will try and help you. https://opentuition.com/forum/technical-problems/
AliMohsin89 says
Are these lectures up to date for 2024?
nishantsahoo says
for the profit part, can we just take $2 and multiply it by the number of units produced ?
kriszemrich says
Hi John,
thank you again for the lectures, very useful!
When you say “In a situation where we are manufacturing several products, all of which use the same limited
resource, then we need to decide on how best to use the limited resource in production.” how best, meaning maximising profit?
John Moffat says
Yes, maximising profit 馃檪
apeksha.jadhav091201@gmail.com says
Hello Sir,
The solution in the free notes for example 2 is different there they have taken only material cost as the variable cost and other cost i.e. labour & other variable costs as fixed cost. Is it because they have mentioned in the question that “in the short-term only material costs are variable”? Is the solution behind the notes for example 2 wrong??
apeksha.jadhav091201@gmail.com says
okay got it i was seeing example 2 and you were explaining example 1. Lol sorry
faiza.1999 says
loved the lecture i had so many doubts (very basic but were annoying )
khorasiaasif@gmail.com says
Thank you Sir..God bless you and Team Opentuition
Hilal380 says
Is anything wrong with the website? I can’t play the video in this website. I need to go to YouTube to watch the video.
John Moffat says
The video is working fine. Have you tried again since? If you are still having the problem please post in the ‘Technical Problems’ forum and admin will try and help you.
https://opentuition.com/forum/technical-problems/