Exhibit 13.1 The Following Questions Are Based on the Output Below

question 7

Multiple Choice

Exhibit 13.1
The following questions are based on the output below.
A store currently operates its service system with 1 operator. Arrivals follow a Poisson distribution and service times are exponentially distributed. The following spreadsheet has been developed for the system.
-If a service system has a constant service time, Poisson arrival rates and 2 servers its Kendall notation is

• A) P/D/2
• B) M/D/2
• C) M/D/1
• D) G/D/2

Comprehend the reasons behind market failure due to poor information.

Understand the concept and characteristics of public goods, including non-excludability and non-rivalry in consumption.

Recognize the free rider problem and its impact on the provision of public goods.

Comprehend the reasons behind government intervention in providing public goods.

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Definitions:

Societal Institution

An organized and established social system that meets basic societal needs, such as family, education, religion, and politics.

Economy

The system of production, distribution, and consumption of goods and services within a specific geographical region.

Big Man

A leadership role in some traditional societies, characterized by personal wealth, generosity, and the capacity to mobilize and manage resources and people.

Papua New Guinea

is a country located in the southwestern Pacific Ocean, known for its cultural and biological diversity.