If Eva Uses the First Come, First Served (FCFS) Priority

question 16

Multiple Choice

If Eva uses the first come, first served (FCFS) priority rule to schedule these jobs, what will be the average completion time?

• A)3 hours
• B)5 hours
• C)7 hours
• D)7.2 hours
• E)8 hours

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Definitions:

Marginal Cost

The added cost incurred from producing one more unit of a product or service, essentially the derivative of the total cost with respect to quantity.

Oligopolist

A firm or company that operates in an oligopoly, a market structure characterized by a small number of large companies dominating the industry.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

Price Changes

Variations in the cost of goods and services over time, reflecting factors such as supply and demand, market competition, and inflation.