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Consider an espresso stand with a single barista.Customers arrive to the stand at the rate of 28 per hour according to a Poisson distribution.Service times are exponentially distributed with a service rate of 35 customers per minute.The average time in minutes a customer spends in the system i.e. ,waiting and being served) is
Domestic Price
The price of goods or services within a country, unaffected by international market prices or exchange rates.
World Price
The global market price of a commodity, determined by supply and demand in the international market.
Tariff
A tax imposed by a government on goods and services imported into a country, typically used to protect domestic industries.
Imported
Goods or services brought into a country from abroad for sale, contrasting with domestic products or services.
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