Four products (1,2,3,and 4) must be processed on one of four machines (A,B,C,and D) .The times required in minutes for each product on each machine are shown below.
If management wishes to assign products to machines so that the total time to complete all the products is minimized,then Product 1 is assigned to
Definitions:
Marginal Utilities
The increased happiness or advantage gained by a consumer from consuming an extra unit of a good or service.
Maximum Utility
The greatest level of satisfaction or benefit that a consumer can obtain from consuming goods and services.
Pocket Money
A small amount of money given to children by parents as an allowance or for completing tasks, which can be used for personal expenses.
MU y/ Pᵧ
The ratio of the marginal utility of good Y (MUy) to its price (Pᵧ), indicating the additional satisfaction per unit of currency spent.
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