At Any One Time

question 34

Multiple Choice

At any one time:

• A) a firm must make only short-run or long-run decisions.
• B) a firm will be making both short-run and long-run decisions.
• C) the firm will find it most efficient to make only short-run decisions.
• D) the firm will make only long-run decisions.

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Definitions:

Facility Location

The process of determining the most suitable location for a company’s manufacturing or service operation for optimization of its efficiency and effectiveness.

Zoning Regulations

are legal rules defining how property in specific geographic zones can be used, affecting land use, building heights, densities, and the separation of residential areas from commercial and industrial ones.

Location Analysis

The process of finding the most suitable location for a business or service, considering factors such as cost, accessibility, and demand.

Factor-Rating

A method used in decision making to evaluate alternative options based on a set of assigned factors and their importance.