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Rathalos Inc., a logistics firm, initiates a project to optimize its transportation infrastructure. After conducting research, the project team concludes that using a fleet of company-owned trucks for any transportation within 100 miles and relying on external firms for any distance beyond that will drastically improve the company's performance. Rathalos Inc. decides to incorporate these findings into its day-to-day operations after the project is closed. In the context of project closures, this scenario exemplifies _____.
Technological Improvement
Advances in technology that enhance productivity, efficiency, or quality in the production of goods or services.
Cost of an Input
The cost of an input refers to the amount of money expended on resources needed to produce a good or service.
Number of Buyers
A factor that affects market demand, representing how many consumers are interested in purchasing a particular good or service.
Change in Supply
The shift in the quantity of a good that suppliers are willing and able to sell, influenced by factors like costs of production, technology, or expectations of future prices.
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