You Are About to Undertake Manufacture of a Labour-Intensive Electronics

question 104

Essay

You are about to undertake manufacture of a labour-intensive electronics component. The first unit took 300 hours. You are not sure whether the learning rate is 70% or 80%. The initial phase of the contract calls for 6 of these components.
a. How much time will it take to complete all six at 70% learning?
b. How much time will it take to complete all six at 80% learning?

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Definitions:

Perfect Substitutes

Goods or services that can be used in exactly the same way and are interchangeable by consumers.

Coupons

Vouchers or codes offering a discount on the purchase price of goods or services.

Utility Function

A mathematical representation of how a set of choices maps to utility levels, indicating preferences over different bundles of goods or outcomes.

Grapefruits

A large, round citrus fruit with a sour to semi-sweet flavor, commonly known for its beneficial nutrients and use in diets.