-Refer to the Diagram Above

question 110

Multiple Choice

-Refer to the diagram above.One of the reasons that a per-unit tax will result in the socially efficient level of production is that

• A) producers are forced to include all costs of production,including social cost,in their supply curve.
• B) producers are given a chance to make extra profit after the tax is imposed.
• C) producers are given a chance to make extra profit since consumers are willing to pay more.
• D) the government is collecting extra tax revenue.
• E) consumers no longer consume the harmful product.

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Definitions:

Flow Time

The total time it takes for a product to move through a production process, from start to finish.

Work Centre

A specific location where work tasks are performed in a manufacturing or operations setting, often characterized by specific types of processes or equipment.

Average Completion Time

Refers to the average amount of time taken to complete a task or process.

Total Processing Time

The sum of the time periods required to complete all stages of a manufacturing or production process.