Two BPA Techniques Commonly Used to Identify Possible Problems in the Current

question 36

Multiple Choice

Two BPA techniques commonly used to identify possible problems in the current system are _____.

• A) activity based costing and benchmarking
• B) duration analysis and formal benchmarking
• C) outcome analysis and duration analysis
• D) problem analysis and root cause analysis
• E) process simplification and proxy benchmarking

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Definitions:

Short Run

A time period in economics during which at least one input is fixed and cannot be changed.

Economic Profit

The difference between total revenue and both explicit and implicit costs; the profit that exceeds the opportunity cost of resources.

Perfectly Competitive Markets

Markets in which no individual buyer or seller has any significant impact on prices and products are perfect substitutes.

Minimum ATC

The lowest point on the Average Total Cost curve, indicating the most efficient scale of production for a firm in the long run.