Supply Chain Surplus

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Questions and Answers

Which of the following best describes the objective of every supply chain?

  • To increase customer satisfaction
  • To maximize overall value generated (correct)
  • To minimize overall costs
  • To reduce production time

What is the supply chain surplus?

  • The difference between the costs incurred by the supply chain and the customer's willingness to pay
  • The difference between the value of the final product and the costs incurred by the supply chain (correct)
  • The difference between the value of the final product and the customer's willingness to pay
  • The difference between the value of the final product and its price

How can the value of the final product be estimated?

  • By comparing it to the costs incurred by the supply chain
  • By determining the maximum price the customer is willing to pay (correct)
  • By analyzing market trends
  • By calculating the average cost of production

What happens to the difference between the value of the product and its price?

<p>It remains with the customer as consumer surplus (C)</p> Signup and view all the answers

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