Suppose a Consumer Has an Income of $16, the Price

question 184

Multiple Choice

Suppose a consumer has an income of $16, the price of A is $2, and the price of B is $1. Which of the following combinations is on the consumer's budget line?

• A)4A and 9B
• B)5A and 6B
• C)6A and 6B
• D)3A and 8B

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Definitions:

Total Processing Time

The sum of the time periods required to complete all stages of a manufacturing or production process.

Work Centre

A specific location where work tasks within a production process are carried out, often consisting of people, machines, and materials.

FCFS Dispatching Rule

First-Come, First-Served dispatching rule; a method of process queuing in which tasks are tackled in the order of their arrival.

Services

Intangible products such as maintenance, repair, advice, or entertainment that are consumed at the point of delivery.