In a JIT II System the

question 135

Multiple Choice

In a JIT II system the

• A) in-plant representative replaces the buyer, salesperson, and sometimes the materials planner.
• B) customer need not have close interaction with the supplier.
• C) customer is brought into the plant as an active member of the purchasing department of the supplier.
• D) sales effort of the supplier increases but the cost of materials to the customer decreases.

Understand the concepts of marginal cost, average cost, and fixed costs in the context of monopolies and natural monopolies.

Analyze the role and impact of antitrust laws and government regulation on monopolies and market competition.

Understand the conditions under which monopolies engage in perfect price discrimination and its effects on market outcomes.

Identify cases where government intervention in monopolies raises or lowers social welfare.

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