If the supply of a good is inelastic,
choose 2 answers
a)
a small increase in price will lead producers to sharply increase their supply
b)
producers will increase their quantity supplied in response to sharp drops in the
market price
c)
producers have a diminishing marginal return of labor
d)
producers will not change their quantity supplied by much if the market price increases

Q3. loral corporation manufactures parts for an aircraft company. it uses a computerized numerical controlled (cnc) machining center to produce a specific part that has a design (nominal) target of 1.275 inches with tolerances of ± 0.020 inch. the cnc process that manufactures these parts has a mean of 1.285 inches and a standard deviation of 0.005 inch. compute the process capability ratio and process capability index, and comment on the overall capability of the process to meet the design specifications.