Which Measure(s) Is(are) Useful in Evaluating the Efficiency in Managing

question 166

Multiple Choice

Which measure(s) is(are) useful in evaluating the efficiency in managing inventories? 1. Inventory turnover
2. Days in inventory

• A)1 only.
• B)2 only.
• C)Both 1 and 2.
• D)Neither 1 nor 2.

Reflect on the importance of core values in shaping the behavior of organization members.

Understand how strong cultures impact organizational values and performance objectives.

Acknowledge the role of diversity and value-based management in shaping organizational culture.

Understand the concept and importance of diversity in the workplace.

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Definitions:

Monopolist

A single seller in a market with no close substitutes for the product or service, allowing for control over prices.

Non-discriminating Monopolist

A monopolist who charges a single price for its product to all consumers, regardless of market segment differences.

Marginal Revenue

It refers to the additional income earned from selling one more unit of a product or service.

Inelastic Portion

The segment of a demand curve where buyers are less responsive to changes in price, indicating that the quantity demanded changes little with a significant price fluctuation.