Magnus Is a Factory Manager for Clearfield Computers and Is

question 27

Multiple Choice

Magnus is a factory manager for Clearfield Computers and is conducting a visual inspection of component hardware and comparing against established quality standards.Magnus is measuring _____.

• A)production planning
• B)critical path
• C)quality control
• D)benchmarking

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Definitions:

Efficiently Allocated

A situation wherein resources are distributed in such a way that maximizes the net benefits gained from their use, leaving no opportunity to make someone better off without making others worse off.

Marginal Cost

The cost incurred from producing one more unit of a good, reflecting changes in production expense with output variation.

Average Variable Cost

The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.

Industry Expands

The growth phase of an industry characterized by an increase in output, number of producers, or production capacity.