The market-sharing pact or agreement negotiated by trading partners that give rise to voluntary quotas of exports aimed at protecting the importing country's domestic firms is called a <u>voluntary export restraint (VER)</u>.
<h3>What is voluntary export restraint (VER)?</h3>
Voluntary export restraints (VER) are export arrangements between exporting and importing countries so that the exporter agrees to limit the number of some exports.
VER allows the importing country's domestic firms to survive export dumping. It is the opposite of voluntary import expansions (VIE). VIE, which is a part of international trade agreements, allows for more imports by lowering tariffs or dropping quotas.
Thus, the market-sharing pact negotiated by trading partners allowing for voluntary quotas on exports is called <u>voluntary export restraint (VER)</u>.
Learn more about international trade agreements at brainly.com/question/1465144
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A lot of Money in that business
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Answer:
The capacity of the lathe department is 3200 parts/week. The workers capacity is the bottleneck.
Explanation:
In this case we have to compare the machine capacity and the worker capacity, and detecting shich one is limitating the capacity of the department.
Machine capacity
The time it takes for a machine to process a batch is
In 40-hour week, every machine can process 2 batches/week.
With 20 machines, the capacity of the department is 2*20=40 batch/week (4000 pcs/week).
Workers capacity
With 40-hour week and 5-hours setup, every worker can make (40/5)=8 setups a week.
If the department has 4 workers, the amount of setups that can be done is 4*8=32 setups/week. That means that only 32 batches can be processed per week (3200 pcs/week).
The workers resource is the limitating capacity, and therefore the capacity of the lathe department.
Answer:
Total cost= $877,500
Explanation:
<u> First, we need to calculate the unitary variable cost:</u>
Unitary variable cost= 135,000 / 30,000= $4.5
Unitary variable cost= 180,000 / 40,000= $4.5
Unitary variable cost= 225,000 / 50,000= $4.5
<u>Now, the total cost for 35,000 hours:</u>
Total cost= Unitary variable cost*total number of hours + fixed costs
Total cost= 4.5*35,000 + 720,000
Total cost= $877,500
