Which Software Can Help to Design Products Ranging from Cell

question 18

Multiple Choice

Which software can help to design products ranging from cell phones to auto parts at lower costs compared to manual modeling methods?

• A) Decision support systems
• B) Operations software
• C) Computer-aided manufacturing software
• D) Computer-aided design software
• E) Data warehousing software

Understand the role of market price of output, input prices, and technology in determining production decisions.

Know the difference between long run and short run in economic terms.

Understand the goal of firms to maximize total revenue.

Understand the distinction between System I and System II thinking as it applies to human reasoning and decision-making.