A Muther's Grid ______

question 83

Multiple Choice

A Muther's grid ______.

• A)is a visual representation of relationship rating in which symbols or letters represent the relationships between departments
• B)helps us to assign production tasks in such a way that the time required to complete them is approximately equal across workstations
• C)shows the relationship between two or more tasks that requires certain tasks to be done before others
• D)identities the time requirements for a line of production to produce one unit

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Definitions:

Economic Profits

Profits calculated after subtracting both the explicit and implicit costs from total revenues; also known as supernormal profits.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing additional earnings beyond the normal profit level.

Industry Entry

The process of a new competitor or company beginning operations in a particular market.

Economic Profit

Economic profit is the surplus obtained after subtracting both the explicit and implicit costs from total revenues, emphasizing the opportunity costs of resources used.