A furniture store has a sofa on sale for $399.00, with the payment due one year from today. The store is willing to discount the price at an annual rate of 5% if you pay today. What is the amount if you pay today?

Substituting lower-cost inputs when there is no loss in product quality and trying to capture all available economies of scale are two approaches for managing the cost drivers in a company's ______________ chain.

Fill in the blank(s) with the appropriate word(s).

What are the costs of a high turnover within a company's sales force?

What will be an ideal response?