A Time-And-Motion Study Revealed That It Should Take 2 Hours

question 35

Multiple Choice

A time-and-motion study revealed that it should take 2 hours to produce a product that currently takes 6 hours to produce.Labor is $8 per hour. The value-added costs are

• A) $16.
• B) $32.
• C) $48.
• D) $-0-.

---

Definitions:

Pure Competition

A market structure characterized by an extremely high level of competition, where no single buyer or seller can influence the market price.

Advertising

The activity or profession of producing advertisements for commercial products or services to influence consumer behavior.

Purely Competitive Industry

An industry structure where many firms offer a standardized product, entry and exit are easy, and no single supplier controls the market price.

Sales Promotion

Marketing strategies aimed at increasing consumer demand or stimulating market demand through special offers, discounts, or events.