Which of the Following Represents the Key Difference Between the Short

question 75

Multiple Choice

Which of the following represents the key difference between the short run and the long run?

• A) In the long run, the firm makes commitments to a certain type of production technology which are represented as fixed costs in the long run. For example, they have signed a lease on a particular production facility. These fixed costs do not exist in the short run.
• B) In the short run, the firm makes commitments to a certain type of production technology, which are represented as fixed costs in the short run. For example, they have signed a lease on a particular production facility. These fixed costs do not exist in the long run.
• C) The short run refers to less than two years and the long run in over two years.
• D) None of the above are correct.

Recognize the significance of alignment, relationships, and collaboration in successful supply chain management.

Identify and analyze the various types of collaborations and their impact on supply chain efficiency.

Understand the process model for forming and sustaining successful supply chain relationships.

Grasp the concept of core competency and its impact on strategic outsourcing decisions.

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience, or an organization or person having this power.

Monogamous Marriage

A type of marital union where one individual has only one spouse at a time.

Inheritance

The process or act of receiving property, money, or titles from someone who has died.

Direct Observation

The method of collecting data by watching subjects in their natural environment without interference.