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A product requires the following tasks to make it on an assembly line. Assume 7.6 hours per workday and 5 workdays per week.
a.Using only the information given, what would be the maximum output per day that can be achieved?
b.Assume that the activities have been assigned to five workstations. What is the line efficiency for a cycle time of 40 seconds?
Short Run
A period in economics during which some factors of production or inputs are considered fixed.
Long Run
The long run is a period in economics where all factors of production and costs are variable, allowing companies to adjust all inputs.
Profit
The profit earned when the revenue obtained from a business operation surpasses the expenses, costs, and taxes required to maintain that operation.
Loss
A financial condition that occurs when expenses exceed revenues, implying a negative profit.
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