A Work Flow Analysis BEGINS with

question 3

Multiple Choice

A work flow analysis BEGINS with

• A) an examination of the quantity and quality of the desired and actual outputs.
• B) analysis of job descriptions and job specifications.
• C) evaluating the activities, i.e., the tasks and jobs involved.
• D) assessing the inputs, i.e., the people, material, data, equipment that are used.

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Definitions:

Diseconomies of Scale

A situation where a company or organization grows so large that the costs per unit increase, leading to reduced efficiency.

Long-run Average Total Cost

Represents the average cost per unit of output in the long-term, where all inputs are variable, allowing for the adjustment of all factors of production.

Minimum Efficient Scale

The smallest amount of production a company can achieve while still taking full advantage of economies of scale in terms of lowering the average cost per unit.

Long-run Average Total Cost

The average cost per unit of output over the long term, where all inputs are considered variable.