Research into Managerial Use of DSS and Expert Systems Found

question 10

Multiple Choice

Research into managerial use of DSS and expert systems found all the following EXCEPT

• A) managers spent more of their time planning.
• B) managers saw their decision making quality enhanced.
• C) managers spent more time in the office and less in the field.
• D) managers were able to devote less of their time fighting fires.

Understand the concept of economies and diseconomies of scale and their implications for production and firm size.

Recognize the characteristics and examples of natural monopolies and their market implications.

Comprehend the relationship between plant sizes, output ranges, and cost-efficiency in long-run production decisions.

Identify factors that lead to shifts or movements along cost curves in short-run and long-run scenarios.

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Definitions:

Optimal R&D Expenditures

The level of spending on research and development that maximizes a firm's profit or efficiency while being sustainable in the long term.

Expected Rate of Return

The expected return on an investment, based on the potential outcomes and their probabilities.

Production Process

The steps and methods involved in the creation of goods and services, from the procurement of raw materials to the final product.

Added Profit

Additional earnings generated from an action or operation beyond the original or expected profit.