Assignment:
1. A management science solution can he either a recommended decision or information that helps a manager make a decision.
A. TRUE
B. FALSE
2. The first step of the management science process is to define the problem
A. TRUE
B. FALSE
3. Variable costs depend on the number of items produced.
A. TRUE
B. FALSE
4. Fixed cost is the difference between total cost and total variable cost.
A. TRUE
B. FALSE
5. The break-even point is the volume that equates total revenue with total cost.
A. TRUE
B. FALSE
6. In general, an increase in price increases the break-even point if all costs are held constant.
A. TRUE
B. FALSE
7. If variable costs increase, but price and fixed costs are held constant the break-even point will decrease.
A. TRUE
B. FALSE
8. The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies. Price can vary between dollar 10 and dollar 50.How many units can be sold when the price is $10.
A. 4750
B. 5330
A. 2000
B. 3350