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Identify and Describe Key Factors Operations Managers Consider When Choosing

question 34

Essay

Identify and describe key factors operations managers consider when choosing a location for a business facility.


Definitions:

Total Revenue

The total income received by a firm from its sales of goods or services, calculated as the quantity sold times the price per unit.

Price Lowered

A decrease in the cost of a good or service to consumers.

Price Elasticity

A measure of the responsiveness of quantity demanded or supplied of a good to a change in its price.

Quantity Demanded

The quantity of a good that consumers are willing and able to purchase at a given price over a specified period of time.

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