Quality Can Improve Profitability by Reducing Costs

question 117

Multiple Choice

Quality can improve profitability by reducing costs.Which of the following is not an aspect of reduced costs by quality improvements?

• A)flexible pricing
• B)increased productivity
• C)lower rework and scrap costs
• D)lower warranty costs
• E)All of the above are aspects of reduced costs by quality improvements.

Calculate and understand the mode in a data set.

Calculate and understand the interquartile range.

Calculate and understand the median in a data set.

Calculate and understand the mean of a data set.

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Definitions:

Products Online

Goods or services offered for sale on the internet, encompassing a wide range of items from clothing to software, facilitating easier access and broader choices for consumers.

Marginal Revenue

The increased earnings from the sale of one more unit of a product or service.

Purely Competitive

A market structure characterized by a large number of small firms producing identical products with free entry into and exit out of the market.

Entry And Exit

The ease with which new competitors can enter into an industry and existing ones can leave, influencing the competitive dynamics and profitability of a market.