Answer:
The needed cycle time must be 1.4 min
Explanation:
Given:
Production time per day min
Desired unit of output per day
Total activity
For finding cycle time,
From the formula of cycle time,
min
Therefore, the needed cycle time must be 1.4 min
A or Middle Eastern is your answer.
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Answer:
A shortage will result whenever the: c. Government imposes a price ceiling below the equilibrium price.
Explanation:
A <em>shortage</em> happens when the supply of a product is not enough to satisfy its demand.
Remember that the <em>equilibrium price</em> means that there is no shortage or excess - the quantity supplied of a product is exactly the same as the demanded quantity.
Now, keeping this in mind:
<em>a.</em> The government imposes a price floor above the equilibrium price: This means that the product is too expensive, so there will not be enough demand for the supplied good.
<em>b.</em> The government imposes a price floor below the equilibrium price: The price floor is cheaper than the equilibrium price, and in that case a shortage would occur. However, the market can still reach its equilibrium point since the restriction is on the minimum price (and not the maximum). Goods can still be legally sold at their equilibrium price.
c. The government imposes a price ceiling below the equilibrium price: In this case, a shortage would happen, since the demand of the product would rise given that legally it's cheaper than its equilibrium price.
<em>d. </em>The quantity supplied exceeds the quantity demanded: This would be basically the same as case a.
<span>For inelastic goods, when the overall price rises, quantity demanded will drop more than the overall price rise. This will cause the overall revenue brought in by the product to decrease. Elastic goods would have a smaller decrease in QD than the percentage of the price rise.</span>
If another company was selling a laptop very similar to the one you are debating on buying or if in a year a much better version was going to be released.