Use the Table Below to Answer the Following Questions

question 114

Multiple Choice

Use the table below to answer the following questions.
Table 3.5.1
The Market for Car-Seat Heaters

-Refer to Table 3.5.1.Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns.As a result,demand decreases by 100 heaters at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.

• A)70;450
• B)70;350
• C)50;450
• D)50;350
• E)60;400

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Definitions:

Just-In-Time Production

A manufacturing methodology aimed at reducing inventory costs by producing goods only as they are needed in the production process or by the customer.

Inventory Replenishment

The process of adding stock to inventory to maintain desired levels and fulfill customer orders without delay.

Process Excellence

Continuous improvement of business processes to achieve superior performance and efficiency.

SCIS Implementation

The process of deploying and integrating Supply Chain Information Systems into an organization's operations for better coordination and management.