Briefly Describe the Difference Between Inspection Vs

question 20

Essay

Briefly describe the difference between inspection vs. poka-yoke as a quality assurance method.

Analyze the short-run and long-run effects of changes in demand and supply on market equilibrium.

Identify the conditions for long-run equilibrium in competitive markets.

Distinguish between short-run and long-run equilibria in relation to firm and market responses.

Interpret how changes in market conditions (demand or supply) affect prices and quantities in both short-run and long-run scenarios.