1)Capability of firms to respond persistently ,in appropriate time to the demand of customers or change in marketplace to sustain its competitive advantage is kown as responsiveness ." Supply chain responsiveness is uninterrupted details   stream and in supply chain stream of goods should be at the proper place at the proper time.Decrease in cycle time is the most important performance result  within the supply chain that is expected from inter organizational relation. Responsiveness is affected by product type, type of industry and demand and supply features.Thus responsiveness in supply chain is the capability of the supply chain to acknowledge customer request or changes in the market place at the right time.

b)i) A highly responsive supply chain is highly sensitive to meet the customer requirements. For eg every 3 months an online computer hardware assembler upgrade their range of products.The new models, with better performance will be at low price than the models replaced.

ii)An efficient supply chain makes the better use of financial,human ,technological and physical resources.Eg Amazon can ship about 10 million different products which makes it better than the competitors . This is efficient supply chain.

2)

rate of interest =(1+i/n)^n-1

=(1+.6/6)^6-1

= .77156 or 77.156%

For 6 months = [1+({R/2}/100)]^T

[1+({.6/2}/100)]^6

=.100000

=10%

3)

Formulas Used:
Total cost = Total Fixed cost + Total Variable Cost
Average cost = Total cost / quantity
Average Fixed cost = total fixed cost / quantity
Marginal Cost = Change in Total cost / Change in quantity

Total cost at 0 level of output will be equal to fixed cost .