Blank DVDs and Prerecorded DVDs Are Substitutes in Production

question 176

Multiple Choice

Blank DVDs and prerecorded DVDs are substitutes in production. An increase in the price of a blank DVD will lead to

• A) an increase in the supply of prerecorded DVDs.
• B) a decrease in the supply of prerecorded DVDs.
• C) an increase in the quantity supplied of prerecorded DVDs but not in the supply of prerecorded DVDs.
• D) a decrease in the quantity supplied of prerecorded DVDs but not in the supply of prerecorded DVDs.

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Definitions:

Continuous Improvement

An ongoing effort to improve products, services, or processes through incremental and breakthrough improvements.

Quality Circles

Small groups of employees who voluntarily meet on a regular basis to identify, analyze, and solve work-related problems, typically focusing on quality improvement.

NLRA

Refers to the National Labor Relations Act of 1935, U.S. legislation that protects the rights of employees and employers, to encourage collective bargaining, and to curtail certain private sector labor and management practices.

Labor-Management Committees

Groups formed by representatives from both labor unions and management teams to discuss and address workplace issues, improve relations, and enhance productivity collaboratively.