Which of the Following Statements About the Relationship Between Operations

question 155

Multiple Choice

Which of the following statements about the relationship between operations management and utility is TRUE?

• A) All operations management provides utility of one type or another.
• B) Only operations management in the manufacturing sector can truly be said to provide utility.
• C) Only operations management in the service sector provides utility because it is where product and consumer meet.
• D) Operations management creates the same kind of utility regardless of the sector of the economy involved.
• E) There is no demonstrable relationship between operations management and utility.

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Definitions:

Total Product Curve

A graphic representation showing how the total quantity of output of a firm changes as the quantity of an input is changed, holding all other inputs constant.

Marginal Product

The increase in output that results from adding one more unit of a specific input, holding all other inputs constant.

Total Product

The total output or production achieved by a firm from a given amount of inputs.

Marginal Product

The additional output produced when one additional unit of an input is employed, with all other factors remaining constant.