A Technical Innovation in the Production of Automobiles by Ford

question 15

Multiple Choice

A technical innovation in the production of automobiles by Ford Motor Company's for 1 million cars per year would necessarily

• A)shift the "1 million car" isoquant away from the origin.
• B)shift the "1 million car" isoquant toward the origin.
• C)cause 1 million cars to be produced with more capital and less labor.
• D)cause 1 million cars to be produced with more labor and less capital.

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Definitions:

Job Description

A formal account of an employee's responsibilities, duties, and scope of work.

Reduction Strategy

A plan implemented to decrease the scale, scope, or operations of an organization, often as part of cost-cutting measures or organizational restructuring.

Stability Strategy

Essentially calls for maintaining the status quo. A company that adopts a stability strategy plans to stay in its current businesses and intends to manage them as they are already being managed. The organization’s goal is to protect itself from environmental threats. A stability strategy is frequently used after a period of retrenchment or after a period of rapid growth.

Diversification Strategy

A diversification strategy is used by companies that are adding new products, product lines, or businesses to their existing core products, product lines, or businesses.