Answer: 4) Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage.
Explanation:
The Business Analysis stage of the New Product Development Process is a more in-depth analysis of the product to find out the viability of the product in the market and what it means for the firm.
Here the big questions are asked such as;
- The Cost of the product to produce
- If adequate profit will be generated
- Projected market demand
- Existing competitors etc
Once these questions have been answered and other analysis made and the company is satisfied, the product can then move to the Product Development Stage.
Answer: Rachel should produce pie and Joey should produce bread.
Explanation:
Rachel can make 1 loaf of bread in 2 hours and 1 pie in 1 hour. Therefore, Rachel can take less time to produce 1 pie as compared to 1 loaf of bread, as a result she should produce pie.
Joey can make 1 loaf of bread in 4 hours and 1 pie in 4 hours. Therefore, Joey can take same time for producing either pie or bread. But he has only one option to produce bread.
So, Rachel is specialized in producing pie and Joey is specialized in producing bread in order to maximize their combined output.
