Which Part of a Waiting Line Has Characteristics That Involve

question 3

Multiple Choice

Which part of a waiting line has characteristics that involve statistical distribution?

• A) arrivals or inputs
• B) waiting line itself
• C) service facility
• D) A and C
• E) A, B, and C

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Definitions:

Marginal Cost

The additional expenditure required to produce one more unit of a product or service.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in the quantity of goods or services sold.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing to buy.

MR (Marginal Revenue)

The increase in revenue that results from selling one additional unit of a product or service.