When a firm redesigns a product to reduce the number of component parts,the firm is
A)increasing consumer value.
B)increasing the value added to the product.
C)decreasing product variety.
D)decreasing non-value-added costs.

Question

Quizplus · Accepted Answer

When a firm redesigns a product to reduce the number of component parts, they are decreasing non-value-added costs. Non-value-added costs are expenses incurred during the production process that do not add value to the final product. By reducing the number of component parts, a firm can streamline the production process and reduce costs. This can lead to higher profitability and/or lower prices for the consumer.

When a Firm Redesigns a Product to Reduce the Number