The time required to change a machine from making one product or service to the next is called:

Courts apply an objective test when determining the existence of duress. The party's state of mind is irrelevant

Indicate whether the statement is true or false

Pressures for cost reduction are intense in firms:

A. that produce products that are well differentiated. B. whose major competitors are based in high-cost locations. C. with persistent low capacity. D. in which consumers face low switching costs. E. with no international competition.