Demands and Constraints ________ Choices in the Short Run; Over

question 85

Multiple Choice

Demands and constraints ________ choices in the short run; over a longer time period a leader has the opportunity to modify demands and remove constraints in order to ________ choices.

• A) limit; expand
• B) limit; limit
• C) expand; expand
• D) expand; limit

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Definitions:

MRP

Material Requirements Planning; a system for calculating the materials and components needed to manufacture a product.

Acre

A unit of land area used in the imperial and US customary systems, equivalent to 4,840 square yards or about 4,047 square meters.

Rent

The payment made by a tenant to a landlord for the use of a property, building, or land.

Marginal Revenue Product

The increased earnings resulting from the application of one additional production factor, such as workforce or investment.