In a Just-In-Time Operating Environment,the Key Measure of Cost Incurred

question 83

Multiple Choice

In a just-in-time operating environment,the key measure of cost incurred is

• A)machine hours.
• B)push-through time.
• C)throughput time.
• D)indirect costs.

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Definitions:

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit changes as production levels change.

MR Curve

Stands for Marginal Revenue Curve, which shows how the revenue changes with the sale of one additional unit of a product.

Profit-Maximizing

The approach a company takes to determine the most profitable pricing and output combination.

Deadweight Loss

An inefficiency in the market that occurs when supply and demand are out of balance, resulting in lost economic opportunity.