Antonio and Elyse Are Two Woodworkers Who Both Make Kitchen

question 142

Multiple Choice

Antonio and Elyse are two woodworkers who both make kitchen cabinets and bathroom vanities. In one month, Antonio can make 12 kitchen cabinets or 36 bathroom vanities, where Elyse can make 10 kitchen cabinets or 50 bathroom vanities. Who has a comparative advantage in which product?

• A) Antonio in bathroom vanities, Elyse in kitchen cabinets
• B) both Antonio and Elyse in kitchen cabinets
• C) both Antonio and Elyse in bathroom vanities
• D) Antonio in kitchen cabinets, Elyse in bathroom vanities

Understand the concepts of supply chain assets and their forms.

Recognize the implications of overbooking on asset utilization and revenue.

Identify the benefits of differential pricing and its impact on firm profits.

Appreciate the importance of customer understanding and behavior quantification in successful revenue management.

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Definitions:

Leader Behaviors

Actions and activities carried out by leaders in the course of guiding, directing, and influencing the work of team members.

Types

Categories or classifications based on common characteristics or attributes, used to organize a wide range of entities, including objects, individuals, and concepts.

9, 9 Style

A leadership approach in the managerial grid model that emphasizes high concern for both production and people, aiming for maximum performance and engagement.

Blake and Mouton

Refers to the Blake and Mouton Managerial Grid, a model used to assess and analyze managerial behavior focusing on two dimensions: concern for people and concern for production.