A key to understanding the difference between TQM and reengineering is TQM's emphasis on:
A. the reorganization of inventory control.
B. outsourcing.
C. continuous improvement.
D. one-time reengineering of production processes.
Answer: C
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Suppose a firm has a Cobb-Douglas weekly production function Q = F(L, K) = 25L0.5K0.5, where L is the number of workers and K is units of capital. The wage rate is $900 per week, and a unit of capital costs $400 per week. Assuming no fixed costs, what is the firm's total cost of production if it uses least-cost input combination to produce 675 units of output?
A. $48,600 B. $43,650 C. $35,100 D. $32,400
A bank has $200 million in assets and $230 million in liabilities. The bank's net worth is _____________ million and the bank is ____________
A) -$215; insolvent B) -$30; insolvent C) $15; solvent D) $30; solvent
When a tax is proportional, the average tax rate:
A. first increases with income, then decreases with income. B. is constant with income. C. decreases with income. D. increases with income.
The difference between consumption spending and disposable income _
What will be an ideal response?