Master Production Scheduling Is Specialized Form of

question 23

Multiple Choice

Master production scheduling is specialized form of

• A)MRP.
• B)Demand planning.
• C)SOP.
• D)Production planning.
• E)Operations scheduling.

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Definitions:

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

Marginal Wage Cost

The additional cost incurred by hiring an extra unit of labor, essentially the change in total wage cost from hiring one more employee.

Monopsonistic Labor Market

A market situation in which there is only one buyer (employer) for many sellers (workers), allowing the buyer to exert considerable control over wages and employment conditions.

MRP

Marginal Revenue Product; the additional revenue generated by employing one more unit of a factor, such as labor or capital.