An Evaluation Table Typically Uses Two Scales for Evaluating Alternatives

question 18

Multiple Choice

An evaluation table typically uses two scales for evaluating alternatives. Those two scales are

• A) level of importance; how well it meets each design criterion
• B) simplicity; cost
• C) return on investment; environmental friendliness
• D) time to market; scheduling accuracy

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Definitions:

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, resulting in cost per unit of output decreasing with increasing scale.

Diseconomies of Scale

The phenomenon where production costs per unit increase as an operation scales up, typically due to inefficiencies or increased complexities.

Long-Run

The long-run refers to a period in economics where all factors of production and costs are variable, allowing all inputs to be adjusted.

Short-Run

A period in economics during which at least one factor of production is fixed, focusing on immediate effects and adjustments.