Which of the Following Is Most Likely to Be Served

question 53

Multiple Choice

Which of the following is most likely to be served in a last-in, first-served (LIFS) queue discipline?

• A) customers checking out at a grocery store
• B) the in-basket on a manager's desk
• C) patients entering a hospital emergency room
• D) patrons waiting to be seated in a casual-dining restaurant
• E) all of the above

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Definitions:

ATC

The total cost per unit of output, calculated by dividing the total cost by the amount of output produced.

Long-Run Equilibrium

A state in which all factors of production are fully adjusted to the economic conditions, leading to a situation where there is no tendency for change.

Purely Competitive Firm

refers to a company that operates in a market where there are many buyers and sellers, no barriers to entry, and the product is a commodity, leading the firm to be a price taker.