According to the Text,the Primary Task of the Operations Manager

question 22

Multiple Choice

According to the text,the primary task of the operations manager is to

• A) make sure all the products or services are producing maximum revenue.
• B) develop and operate a system that will produce the required number of products or services with a certain quality, at a given cost, within an allotted time.
• C) make sure the process has a high quality control.
• D) ensure that the process is manufactured or delivered as efficiently as possible.
• E) interface with the other functional departments to coordinate their operations in avoiding duplication of effort.

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Definitions:

Total Surplus

The sum of consumer surplus and producer surplus, representing the total benefit to society from the production and trade of goods and services.

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay; a measure of consumer benefit.

Producer Surplus

The difference between the amount a producer is actually paid for a good compared to the minimum amount they would accept for the good.

Excess Supply

A market condition where the quantity of a commodity available for sale exceeds the quantity demanded at the current price.