Use the following information to answer questions 1-5 J & J Limited produces a single product and the company is trying to determine the effectiveness of their pricing decisions. You have been asked to develop cost functions that will assist in arriving at the optimal price that will enable the company to maximize profits. During the year, you were provided with the following demand and costs functions for the product (CLO 3): P = 350-6Q, where P is the uThe output at which profit is maximized is (in thousands)?

a.

12

b.

16

c.

19

d.

20nit selling price and Q is quantity of units in thousands. TC = 4Q2 + 30Q + 75, where TC is total costs in thousands of dollars.The optimal sales revenue is (in thousands)?

a.

1,579

b.

4,064

c.

2,485

d.

254

Question 4

Not yet answered

Marked out of 1.00

Flag question

Question text

The total cost at optimal output is?

a.

254

b.

2,485

c.

4,064

d.

1,579

Question 5

Not yet answered

Marked out of 1.00

Flag question

Question text

The Maximum Profit at the optimal output is?

a.

4,064

b.

2,485

c.

16

d.

1,579

Question 6

Not yet answered

Marked out of 1.00

Flag question

Question text

Which one of the following statements is true? Balanced scorecards (CLO 6):

a.

can only be updated on an annual basis

b.

can be used in Not-for-Profit organizations

c.

always have four perspectives

d.

are a feedback mechanism

Question 7

Not yet answered

Marked out of 1.00

Flag question

Question text

According to Norton and Kaplan, the balanced scorecard should be used as a (CLO 6):

a.

Strategic system

b.

Control system

c.

Feedback system

d.

Diagnostic system

Question 8

Not yet answered

Marked out of 1.00

Flag question

Question text

What is a lagging performance indicator (CLO 6) ?

a.

An indicator that depends n another performance measure

b.

Delayed reporting of performance

c.

An indicator that highlights past performance

d.

An indicator that can anticipate future performance

Question 9

Not yet answered

Marked out of 1.00

Flag question

Question text

Which of the following is a lag performance indicator (CLO 6) ?

a.

Output per employee

b.

Return on capital employed

c.

Number of complaints received from customers

d.

Number of training hours per employee

Question 10

Not yet answered

Marked out of 1.00

Flag question

Question text

In which of the four perspectives of a balanced scorecard is the objective reduce staff turnover most likely to be (CLO 6) ?

a.

Learning and growth

b.

Internal processes

c.

Customer

d.

Financial

Question 11

Not yet answered

Marked out of 1.00

Flag question

Question text

In which of the four perspectives of a balanced scorecard would Return of Capital Employed (ROCE) be likely to appear (CLO 6)?

a.

Financial

b.

Learning and growth

c.

Internal processes

d.

Customer

Question 12

Not yet answered

Marked out of 1.00

Flag question

Question text

What is strategy mapping in the balanced scorecard (CLO 6)?

a.

Identifying causal links between the four perspectives

b.

Agreeing the strategy with the director of the business

c.

Mapping the business processes

d.

Setting the mission

The optimal sales revenue is (in thousands)?

a.

1,579

b.

4,064

c.

2,485

d.

254

Question 4

Not yet answered

Marked out of 1.00

Flag question

Question text

The total cost at optimal output is?

a.

254

b.

2,485

c.

4,064

d.

1,579

Question 5

Not yet answered

Marked out of 1.00

Flag question

Question text

The Maximum Profit at the optimal output is?

a.

4,064

b.

2,485

c.

16

d.

1,579

Question 6

Not yet answered

Marked out of 1.00

Flag question

Question text

Which one of the following statements is true? Balanced scorecards (CLO 6):

a.

can only be updated on an annual basis

b.

can be used in Not-for-Profit organizations

c.

always have four perspectives

d.

are a feedback mechanism

Question 7

Not yet answered

Marked out of 1.00

Flag question

Question text

According to Norton and Kaplan, the balanced scorecard should be used as a (CLO 6):

a.

Strategic system

b.

Control system

c.

Feedback system

d.

Diagnostic system

Question 8

Not yet answered

Marked out of 1.00

Flag question

Question text

What is a lagging performance indicator (CLO 6) ?

a.

An indicator that depends n another performance measure

b.

Delayed reporting of performance

c.

An indicator that highlights past performance

d.

An indicator that can anticipate future performance

Question 9

Not yet answered

Marked out of 1.00

Flag question

Question text

Which of the following is a lag performance indicator (CLO 6) ?

a.

Output per employee

b.

Return on capital employed

c.

Number of complaints received from customers

d.

Number of training hours per employee

Question 10

Not yet answered

Marked out of 1.00

Flag question

Question text

In which of the four perspectives of a balanced scorecard is the objective reduce staff turnover most likely to be (CLO 6) ?

a.

Learning and growth

b.

Internal processes

c.

Customer

d.

Financial

Question 11

Not yet answered

Marked out of 1.00

Flag question

Question text

In which of the four perspectives of a balanced scorecard would Return of Capital Employed (ROCE) be likely to appear (CLO 6)?

a.

Financial

b.

Learning and growth

c.

Internal processes

d.

Customer

Question 12

Not yet answered

Marked out of 1.00

Flag question

Question text

What is strategy mapping in the balanced scorecard (CLO 6)?

a.

Identifying causal links between the four perspectives

b.

Agreeing the strategy with the director of the business

c.

Mapping the business processes

d.

Setting the mission

The optimal sales revenue is (in thousands)?

a.

1,579

b.

4,064

c.

2,485

d.

254

Question 4

Not yet answered

Marked out of 1.00

Flag question

Question text

The total cost at optimal output is?

a.

254

b.

2,485

c.

4,064

d.

1,579

Question 5

Not yet answered

Marked out of 1.00

Flag question

Question text

The Maximum Profit at the optimal output is?

a.

4,064

b.

2,485

c.

16

d.

1,579

Question 6

Not yet answered

Marked out of 1.00

Flag question

Question text

Which one of the following statements is true? Balanced scorecards (CLO 6):

a.

can only be updated on an annual basis

b.

can be used in Not-for-Profit organizations

c.

always have four perspectives

d.

are a feedback mechanism

Question 7

Not yet answered

Marked out of 1.00

Flag question

Question text

According to Norton and Kaplan, the balanced scorecard should be used as a (CLO 6):

a.

Strategic system

b.

Control system

c.

Feedback system

d.

Diagnostic system

Question 8

Not yet answered

Marked out of 1.00

Flag question

Question text

What is a lagging performance indicator (CLO 6) ?

a.

An indicator that depends n another performance measure

b.

Delayed reporting of performance

c.

An indicator that highlights past performance

d.

An indicator that can anticipate future performance

Question 9

Not yet answered

Marked out of 1.00

Flag question

Question text

Which of the following is a lag performance indicator (CLO 6) ?

a.

Output per employee

b.

Return on capital employed

c.

Number of complaints received from customers

d.

Number of training hours per employee

Question 10

Not yet answered

Marked out of 1.00

Flag question

Question text

In which of the four perspectives of a balanced scorecard is the objective reduce staff turnover most likely to be (CLO 6) ?

a.

Learning and growth

b.

Internal processes

c.

Customer

d.

Financial

Question 11

Not yet answered

Marked out of 1.00

Flag question

Question text

In which of the four perspectives of a balanced scorecard would Return of Capital Employed (ROCE) be likely to appear (CLO 6)?

a.

Financial

b.

Learning and growth

c.

Internal processes

d.

Customer

Question 12

Not yet answered

Marked out of 1.00

Flag question

Question text

What is strategy mapping in the balanced scorecard (CLO 6)?

a.

Identifying causal links between the four perspectives

b.

Agreeing the strategy with the director of the business

c.

Mapping the business processes

d.

Setting the mission