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In a Company, Engineers Have Redesigned Production Processes Lowering Production

question 136

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In a company, engineers have redesigned production processes lowering production costs, shortening production cycle time, reducing waste and improving quality. Which type of managerial activity applies to this situation?


Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded at those prices, typically downward sloping.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified period.

Shifts

Refers to changes in the position of demand or supply curves in economic models, often due to changes in external factors such as technology, preferences, or policy.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to purchase at various prices.

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