Answer: Option C
Explanation: In simple words, product focused process refers to the processes that focuses on producing the batch of similar products. These processes are usually used to manufacture products like paper rolls and light bulbs.
Under this process large units are produced of a similar product. Such processes require high fixed cost and low variable cost.
From the above we can conclude that the correct option is C.
Answer: Minimum efficient scale is 8 units.
Explanation:
Given that,
Cost function: C(q) = 64 + 
Marginal cost function: MC = 2q
Average cost: AC = 
= 
= 
The minimum efficient scale is at a point where MC = AC
2q =
Therefore, minimum efficient scale is 8 units.
4) paring 5) fish 6) utility 7) filet 8) chef 9) turning 10) bread
(might be wrong)
Answer:
False.
Explanation:
Six Sigma is a quality control standard that was developed by Motorola Inc in 1986. It aims to reduce defects in goods produced.
While production cycle remains constantor faster, the quality of output should be kept below 3.4 defects per million.
Six Sigma is now applied in various fields like customer service to ensure customer retention, and management strategies.
So the statement above is false, defects must be kept below 3.4 per million to comply with Six Sigma standard.
The current U.S. economy is based primarily on the production of services. Services are expert work performed by teams for customers, such as products, accountancy, consultation, banking, cleaning, education, insurance, and treatment, for example.
