Two Common Classifications of Operations Technology That Have Received Considerable

question 117

Multiple Choice

Two common classifications of operations technology that have received considerable attention are __________ classification and __________ classification.

• A) Weber's; Taylor's
• B) Thompson's; Woodward's
• C) Herzberg's; Thompson's
• D) Salancik's; Pfeffer's
• E) Bandura's; Herzberg's

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Definitions:

ATC

Average Total Cost, which is calculated by dividing total costs by the quantity of output produced.

MC

Marginal Cost, the increase in total cost that arises from an extra unit of production.

MR

Marginal Revenue, the additional income generated from selling one more unit of a product or service.

Perfectly Elastic

Perfectly elastic refers to a situation where the quantity demanded or supplied responds infinitely to changes in price.