Answer:
Edison cannot change the number of ovens he uses because it is fixed resources.
Explanation:
However, Edison's decision regarding how many workers to use can vary from week to week.
Each Monday, Edison lets them know how many workers he needs for each day of the week.
In the short run, these workers are variable resources, and the ovens are fixed resources.
Answer:
B. Pass-through scheme.
Explanation:
Pass-through Billing: Pass-through billing schemes occur when a provider, such as a physician or hospital, pays a laboratory to perform their tests and then files the claims as though they had performed the tests themselves.
Answer:
1. C. c. material, machinery/equipment, manpower, and methods.
2. E. All are correct
Explanation:
1. The cause-and-effect diagram also known as the Ishikawa diagram is used by organizations to find out the likely causes of unwanted problems. This diagram traces the roots of problems and helps managers discover the potential causes of these problems. The four M's that form the bone of the diagram to which other causes are traced include the;
a. material, which is about the products used in the production process and potential problems that can be attributed to them.
b. machinery/equipment, which is about the plant and likely problems that can arise from their use.
c. manpower, which is about the personnel used in the production process, and,
d. methods, which is about the systems adopted by the organization.
2. A systematic approach to capacity decisions include;
a. Estimation of capacity requirements
b. Identification of gaps by comparing the expected requirements with available capacity.
c. Develop alternative plans and methods that would help to reduce the gaps.
d. Evaluate the alternatives taking into consideration their qualitative and quantitative attributes.
That would be E job completion paying extra to stay and get the work done is job completion.
When there is highly inelastic supply of the factor and highly inelastic demand of the factor, in these situations the owners supply factors of production are the most likely to earn economic rent. So, the answer should be:
factors of production are the most likely to earn economic rent when they are highly inelastic supply of factor and highly inelastic demand of the factor.
