Which of the Following Statements Is Correct

question 92

Multiple Choice

Which of the following statements is correct?

• A) Price discrimination is always more profitable than charging a single price.
• B) A price discriminator would want to charge the highest price to those customers with the most elastic demand for his product.
• C) To be successful, a price discriminator must assure that items can be resold between high- and low-price groups.
• D) To maximize profit, a price discriminator distinguishes groups with different demands and charges higher prices to those with the more inelastic demand.

Understand the importance of quality control and assurance in production and service provision.

Recognize and differentiate the purpose and application of different review and control questions related to improvement before and after completing a task or project.

Understand the significance of organizational culture, norms, and practices in the management of control systems (e.g., clan control).

Understand the basics and applications of project management tools, such as Gantt charts and CPM/PERT diagrams.

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Definitions:

P-Chart

A quality control chart that is used to control attributes.

Process Sampling

The technique of selecting a sample of elements from a process for analysis, to determine the quality or performance of the process.

Acceptance Sampling

A statistical quality control method used to determine whether to accept or reject a batch of products based on a sample of items from the batch.

Process Capability Index

A statistical measure of a process's ability to produce output within specified limits.