A University Has Only One Technician in the Repair Station

question 1

Multiple Choice

A university has only one technician in the repair station to care for the computers in the student labs. This system is most likely

• A) a single channel, limited queue system
• B) a single channel, limited population system
• C) a multi-channel, limited queue system
• D) a multi-channel, limited population system
• E) none of the above

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the scale of the operation and output increases.

Coordination Problems

Challenges that arise in aligning the plans and actions of multiple parties in order to achieve a common goal or optimize outcomes.

Economic Profit

is the excess of total revenue over the total costs, including both explicit and implicit costs.

Accounting Profit

Accounting profit is the net income a company reports on its financial statements, calculated as total revenues minus explicit costs and depreciation.