Suppose the Total Time to Fill a Routine Prescription at a Local

question 56

Multiple Choice

Suppose the total time to fill a routine prescription at a local pharmacy averages 35 minutes starting from the time the physician places the order to the time it is dispensed.Assume the standard deviation is 11 minutes.The z-score for x = 46 is ________.

• A)1.0
• B)-1.0
• C)11
• D)-11
• E).10

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Definitions:

Oligopolistic Firms

Companies that operate in a market characterized by a small number of large sellers who have significant control over market prices.

Successful Collusion

A scenario where firms in a market coordinate their actions, such as setting prices or output levels, to achieve collective benefits at the expense of fair competition and consumers.

Demand Curves

Graphical representations showing the relationship between the price of a product and the quantity of the product demanded.

Cost Curves

A graphical representation used in economics to show the total cost of producing a given quantity of output.