Fixing Time Is the Additional Time Needed to Change Over

question 134

True/False

Fixing time is the additional time needed to change over from one service or product to the next, which in turn increases the overload at the workstation being changed over.

---

Definitions:

OPEC

The Organization of the Petroleum Exporting Countries, a group consisting of 13 of the world's major oil-exporting nations.

Perfectly Competitive Market

A market in which all participants are price-takers.

Tacit Collusion

An unspoken, illegal agreement among competitors to avoid competing directly, often leading to higher prices.

Explicit Collusion

An overt agreement among firms within an industry to fix prices, limit production, or engage in other anticompetitive practices.