Which of the Following Is Not One of the Key

question 54

Multiple Choice

Which of the following is not one of the key principles of the lean concept?

• A) Maximize the use of people.
• B) Simplify first, and only then apply new technology.
• C) Focus on gradual, but continuous, improvement.
• D) Minimize waste (including poor quality).
• E) All of these choices.

---

Definitions:

Average Total Cost

The total cost divided by the quantity produced, reflecting the per unit cost of production.

Average Variable Cost

The variable cost per unit of output, which includes costs that vary with production, such as materials and labor.

Economic Profit

The net outcome of subtracting all expenses, both overt and hidden, from a corporation's aggregate earnings.

Short Run

A period during which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust to changes in market demand or supply.