Of the Following, Which Is of Greatest Concern to a Production

question 82

Multiple Choice

Of the following, which is of greatest concern to a production manager?

• A)A bottleneck.
• B)Capacity waste.
• C)A constraint
• D)Overproduction.

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Definitions:

Price Elasticities

Measures of how sensitive the demand or supply of a product is to changes in its price.

Tax Burden

The total amount of taxes paid by individuals or businesses, expressed as a percentage of income or as an absolute amount.

Supply and Demand

A fundamental economic model that describes how prices and quantities are determined in a market based on producers' supply and consumers' demand.

Domestic Producer Surplus

The difference between the amount domestic producers are willing to accept for a good or service and the actual amount they receive.