The inventory turnover ratio measures the average number of days that inventory is held by a company

Hospitals and universities are very expensive to run because of the capital and equipment required. The requirement of personnel such as specialized medical doctors and researchers are also high. Which of the following is this an example of?

A. protectionism B. buffering C. barriers to entry D. smoothing E. downsizing

To reduce problems associated with the intangibility of the services offered by a restaurant, the restaurant owner would be most likely to do which of the following?

A) lower entree prices between 4 p.m. and 6 p.m. B) provide clean tablecloths and cloth napkins for each new customer C) empower employees to handle customer complaints D) offer a service guarantee to ensure customers that food quality will be consistent E) offer regular employee workshops focusing on customer service