Automation Version of the Generic Manufacturing Process, Where in the Three

question 1

Multiple Choice

Automation version of the generic manufacturing process, where in the three manufacturing functions are replaced by the automated technologies is called _______.

• A)automated materials handling system.
• B)flexible manufacturing system.
• C)computer integrated manufacturing system.
• D)production planning system.

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Definitions:

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, allowing for slight differentiation and some pricing power.

Fixed Costs

Costs that do not change with the level of output or activity, such as rent or salaries.

Short Run

A period during which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust production in response to market changes.

Monopolistically Competitive

A market framework where numerous companies offer products that are alike but not exactly the same, providing room for a bit of market influence and variation in products.