Assume You Are Sequencing Jobs Using Johnson's Rule

question 14

Multiple Choice

Assume you are sequencing jobs using Johnson's rule.There are three jobs called A, B and C.The first step in assembling and the second step is painting. Job A requires 3 hours to assemble and 6 hours to paint.Job B requires 7 hours to assemble and 2 hours to paint.Job C requires 4 hours to assemble and 1 hour to paint.The objective is to minimize the total processing time of all jobs, using Johnson's rule.What is the completion time of the last job in the sequence in the second step (painting) ?

• A)14
• B)15
• C)9
• D)12
• E)10

Identify the characteristics of different types of cost curves.

Distinguish between constant, increasing, and decreasing returns to scale.

Assess the impact of firm size on production and costs.

Understand the supply curve characteristics of a perfectly competitive industry.

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Definitions:

Corporate Liability

The legal and financial responsibilities a corporation faces for its actions or failures to act, potentially including civil liabilities or criminal penalties.

Tort

A wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.

Crime

An action or omission that constitutes an offense and is punishable by law.

Respondeat Superior

Latin for “let the superior speak”; the principle by which liability for harm caused by an agent/employee is held by the principal/employer.