Incandescent lamps are characterized by ____ lifetimes and _____ efficiencies.
a. short, high
b. relatively short, relatively high
c. relatively long, relatively poor
d. relatively long, relatively high
Answer: a. short, high
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Which of the following is the first step in the purchasing and payment process?
A) The purchaser receives an invoice for the goods shipped by the supplier. B) The purchaser sends a check to the supplier. C) The purchaser sends a purchase order to the supplier. D) The purchase receives the inventory and prepares a receiving report.
________ is a notion that costs fall with cumulative production or delivery of a service and that, using the first few years of a product's life as a yardstick, the continued decline in costs is predictable
A) Benchmarking B) Experience curve C) Economies of scale D) Reintermediation