Use the Information Below to Answer the Following Question(s)

question 23

Multiple Choice

Use the information below to answer the following question(s) .
A production line operates for 450 minutes per day.Desired production volume is 80 units per day.Total task time to make the product is 56 minutes.
-What is the efficiency of the production line?

• A)99.56%
• B)11.11%
• C)66.67%
• D)33.33%

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Definitions:

Opportunity Cost

The value of the next best alternative foregone as a result of making a decision.

Cakes

Baked desserts that are typically sweet and made from ingredients such as flour, sugar, and eggs.

Absolute Advantage

A scenario in which a country can produce a particular good or service more effectively than another country with the same amount of resources.

Comparative Advantage

an economic principle that posits a country or entity can produce a particular good or service at a lower opportunity cost than its trading partners, leading to beneficial trade.