Answer:
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Answer:
(i) The farm can cover its revenue using its total variable cost, therefore the farm will continue producing 200 units
(ii) The farm cannot cover its revenue using its total variable cost, therefore the farm will shut down
(iii) The two relevant points on supply curve will be: (Price = $12 & Quantity = 0) and (Price = $25 & Quantity = 200)
Explanation:
(i)According to given data, When output is 200 but price is $20, this price is equal to ATC, so the farm breaks even. But since this price is higher than AVC of $15, the farm can cover its revenue using its total variable cost, therefore the farm will continue producing 200 units.
(ii) When output is 200 but price is $12, this price is equal to ATC, so the farm makes economic loss. Also, this price is lower than AVC of $15, so the farm cannot cover its revenue using its total variable cost, therefore the farm will shut down.
(iii) The farm's supply curve is the portion of its Marginal cost (MC) curve above the minimum point of AVC. Since price equals MC, the two relevant points on supply curve will be: (Price = $12 & Quantity = 0) and (Price = $25 & Quantity = 200).
(C) Business process reengineering (BPR) is the analysis and redesign of workflow within and between enterprises.
<h3>
What is Business process reengineering
(BPR)?</h3>
- Business process re-engineering (BPR) is an early 1990s business management method that focuses on the analysis and design of workflows and business processes within a company.
- BPR seeks to assist firms in fundamentally rethinking how they do business in order to improve customer experience, reduce operational costs, and compete on a global scale.
- BPR aims to assist businesses in significantly restructuring their organizations by focusing on the design of their business processes from the ground up.
- A business process, according to early BPR proponent Thomas H. Davenport (1990), is a sequence of logically related operations executed to produce a specific business objective.
Therefore, (C) business process reengineering (BPR) is the analysis and redesign of workflow within and between enterprises.
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Complete question:
__________ is the analysis and redesign of workflow within and between enterprises.
Multiple Choice
(A) Critical success factors (CSFs)
(B) Benchmarking metrics
(C) Business process reengineering (BPR)
(D) Decision support interfaces (DSI)
