Two hundred fifty units of Component X are scheduled for production. Each unit of X requires labor standard time of 2 hr per unit and machine standard time of 1 hr per unit. The standard machine hours of load requirements are ______.
A. 250
B. 500
C. 400
D. 350
A. 250
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A price elasticity of -2 means that a price reduction of one percent will result in ________
A) a decrease in volume by 2% B) a decrease in volume by 20% C) an increase in volume by 2% D) an increase in market share by 20% E) a decrease in market share by 2%
Under the implied warranty of quiet enjoyment, a landlord:
A. can enter the leased property anytime as long as he or she does so quietly. B. may not interfere with any matter concerning the property. C. may not enter the leased property during the term of the lease. D. can enter the leased property during the term of the lease.
Which of the following is true of the growth stage of the product life cycle?
A) New competitors avoid the market. B) Prices tend to increase significantly. C) Early adopters stop buying the product. D) Profits are nonexistent at this stage. E) Sales start climbing quickly.
A useful way to distinguish between goods and services is to place them on a continuum from ____________ to ____________
a. practical; impractical b. tangible-dominant; intangible-dominant c. low; high d. reliable; unreliable e. prepared; unprepared