With Flexible Automation, the Ability to Reprogram Instructions Can Be

question 125

Multiple Choice

With flexible automation, the ability to reprogram instructions can be useful in:

• A) line flow, but not flexible flow, operations.
• B) flexible flow, but not line flow, operations.
• C) either line flow or flexible flow operations.
• D) situations in which top efficiency is mandatory, but only if volumes are high.

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Definitions:

Equilibrium Price

The cost where the amount of a product or service sought by consumers matches the amount available, achieving equilibrium in the market.

Supply and Demand

A fundamental economic model that explains how the price and quantity of goods and services are determined in a market through the interaction of suppliers and consumers.

Equilibrium Quantity

The amount of goods or services supplied that is exactly equal to the amount of goods or services demanded at a given price.