A Company Is Preparing a Bid on a Government Contract

question 4

Multiple Choice

A company is preparing a bid on a government contract for 40 units of a certain product.The operations manager estimates the assembly time required for the first two units to be 10.4 hours and 8.8 hours,respectively.What is the expected time required to produce the 40^th unit?

• A)3.2 hours
• B)4.4 hours
• C)5.9 hours
• D)3.7 hours
• E)2.2 hours

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Definitions:

Economic Duress

A condition in which one is forced to engage in a financial transaction due to threats or pressures, rendering the agreement involuntary.

Irrevocable Offer

An offer that cannot be withdrawn or canceled by the offeror for a specified period, assuming the offeree has given some consideration in exchange for the offer's irrevocability.

Merchant

An individual or entity engaging in the selling of goods or services professionally or commercially.

UCC

Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law.