Which of the Following Is an Advantage of the FCFS

question 132

Multiple Choice

Which of the following is an advantage of the FCFS dispatching rule when used in services?

• A) FCFS is easy to update.
• B) FCFS minimizes the average number of jobs in the system.
• C) FCFS minimizes the average lateness of all jobs.
• D) FCFS maximizes the number of jobs completed on time.
• E) FCFS seems fair to customers.

Understand the concept of marginal utility and its relationship to total utility.

Grasp the importance of the law of diminishing marginal utility and its implications for consumer behavior.

Comprehend the impact of price changes on consumer demand through income and substitution effects.

Recognize how consumers maximize utility within the constraints of their budget.

---

Definitions:

Capital Gain

The profit earned from the sale of an asset that has increased in value over its purchase price, often applied to stocks, bonds, and property.

Stockholder Basis

The amount invested in a company's stock, used for tax purposes to determine gain or loss on the sale or disposition of the stock.

Taxable Income

The sum of earnings that determines the tax liability of a person or business to the government, once all deductions and exemptions have been applied.

Charitable Contribution

A donation or gift to a non-profit organization or charity that is often tax deductible for the donor.