When Investing in Automated Systems,which of the Following Intangible or Indirect

question 91

Multiple Choice

When investing in automated systems,which of the following intangible or indirect benefit is important to consider?

• A)decreased customer satisfaction
• B)decreased market share
• C)increased support labour cost
• D)reduced lead time

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Definitions:

Short Run

A period during which at least one factor of production is fixed, limiting the ability to adjust to changing market conditions.

Production

The process of creating goods or services using labor, machinery, and raw materials.

Price Taker

A market participant that accepts prevailing market prices as given, without having the power to influence these prices.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar, ensuring no single entity can control prices.