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If the percentage change in the quantity demanded of a good is greater than the percentage change in price, price elasticity of demand is:
Quality Cost Reports
Documents that outline the costs associated with ensuring products meet quality standards, including prevention, appraisal, and failure costs.
Lost Sales
Revenue opportunities foregone due to stockouts, production constraints, or market limitations.
Setup Time
The amount of time required to prepare equipment, machinery, or systems for operation or production.
Manufacturing Cycle Efficiency
A measure of the efficiency of the production process, typically calculated as the value-added time as a proportion of the total throughput time.
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