Explain How JIT Production and Lean Manufacturing Are Related

question 100

Essay

Explain how JIT production and lean manufacturing are related.

Analyze how cost curves (MC, AVC, AFC, TC, ATC) behave and how they relate to each other in short-run production.

Determine the stages of production including increasing returns, diminishing returns, and negative returns in the context of the law of diminishing marginal returns.

Calculate total cost, total variable cost, total fixed cost, marginal cost, average variable cost, average total cost, and average fixed cost given necessary data.

Identify the point where the marginal cost curve intersects the average total cost and average variable cost curves, and understand the significance of these intersections.

---

Definitions:

Red Bone Marrow

The type of bone marrow that is involved in the production of red blood cells, white blood cells, and platelets.

Antigens

Substances or molecules that, when introduced into the body, trigger an immune response leading to the production of antibodies.

Cytokines

Small proteins important in cell signaling, with roles in the immune system, including mediating and regulating immunity, inflammation, and hematopoiesis.

Allergy

A condition in which the immune system reacts abnormally to a foreign substance.