Your family is deciding how much corn and steak to purchase for a 4th of July picnic. You and your family decide to make a utility schedule which appears above. If the price of corn is $1 and price of a steak is $1, how many steaks should your family purchase for their 4th of July picnic if you have a budget of $6?

Which of the following is false regarding the links between jit and quality? a. jit increases the cost of obtaining good quality. b. as quality improves, fewer inventory buffers are needed; in turn, jit performs better. c. jit reduces the number of potential sources of error by shrinking queues and lead times. d. inventory hides bad quality; jit immediately exposes it. e. if consistent quality exists, jit allows firms to reduce all costs associated with inventory.

The link between volume of production and the cost of building manufacturing operations is particularly important in industries characterized byanswers: process innovations.product manufacturing.product innovation.process manufacturing.

In its 2016 annual report, caterpillar inc. reported the following (in millions): 2016 2015 sales $38,537 $47,011 cost of goods sold 28,309 33,546 as a percentage of sales, did caterpillar's gross profit increase or decrease during 2016? select one: a. gross profit increased from 26.8% to 28.6% b. gross profit decreased from 28.6% to 26.5% c. gross profit increased from 71.4% to 73.2% d. gross profit decreased from 73.2% to 71.4% e. there is not enough information to answer the question.