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3 years ago

Which of the following statements are reasons why operations management is important?

Business

1 answer:

mafiozo [28]3 years ago

7 0

Answer: D. All of these are reasons why operations management is important.

Explanation: Operation management is concern with converting materials and labor efficiently into goods and services for profit maximization. It is the administration of business principles in creating the highest level of efficiency within an organization.

Efficient and productive operation drives the economic well being of nations, Operations management is responsible for much of the value created by organizations and a key source of competitive differentiation among firms, are reasons why operation management is important.

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Suppose that the government decides to regulate this natural monopolist by requiring the firm to charge a price of P2. Which is

Natali5045456 [20]

If the government takes this approach, consumer surplus would increase.

A monopoly is when there is only one firm operating in an industry. A natural monopoly occurs when there is a high start-up cost associated with opening a business or a firm enjoys economies of scale.

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good. As the price of a good declines, consumer surplus increases. P2 is lower than P1, this means that if price is regulated to P2, consumer surplus would increase.

Please find attached the graph required to answer this question. To learn more, please check: brainly.com/question/15415230

7 0

2 years ago

Recruiting new employees via the Internet allows companies to _________. a.Reach candidates from across the worldb.Conduct recru

alexdok [17]

D. All of the above.

Internet allows reaching out candidates from all over the world and at the same time does require you to physically be there for recruitment enabling you to conduct recruitment sessions from office. Further, the resumes and CVs would be sent online requiring no need for physical copies of them.

4 0

3 years ago

Read 2 more answers

Goods Guys Foods established a trust fund that provides $125,000 in scholarships each year for needy students. The trust fund ea

antiseptic1488 [7]

Answer:

$1,724.138

Explanation:

Given:

Payment received each year = $125,000

Rate of return = 7.25 % = 0.0725

Present value = ?

Computation of Present value:

Present value = Payment received each year / Rate of return

= $125,000 / 0.0725

= $1724137.93

Present value = $1724137.93

Present value = $1,724,138 (approx)

Therefore, firm have to contribute $1,724.138

5 0

3 years ago

Which of the following is incorrect regarding how a differentiation strategy can help a firm to improve its competitive position

nirvana33 [79]

Answer:

A. Supplier power is increased, because suppliers will be able to charge higher prices for their inputs

Explanation:

3 0

3 years ago

A firm has a production process in which the inputs to production are perfectly substitutable in the long run. Can you tell whet

Alik [6]

Answer:

The marginal rate of technical substitution will remain constant.

Explanation:

The marginal rate of technical substitution is the rate at which an input is substituted for others. For instance, it is the rate at which the amount of labor should be decreased to increase the amount of capital.

It represents the slope of an isoquant. When the inputs are perfectly substitutable, the isoquant is a straight line. In this situation, the marginal rate of technical substitution remains the same at all the points of the isoquants. The MRTS remains constant, though further information is needed to find out if it is high or low.

8 0

3 years ago