The Manufacturing Efficiency Ratio Equals

question 27

Multiple Choice

The manufacturing efficiency ratio equals:

• A)Value-added time divided by cycle time.
• B)Value-added time multiplied by cycle time.
• C)Cycle time divided by value-added time.
• D)(Cycle time divided by value-added time)divided by 2.

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Definitions:

Marginal Product

The additional output produced by employing one more unit of a specific factor of production, keeping other inputs constant.

Equilibrium Quantity

The level of output at which the quantity supplied equals the quantity demanded, reflecting a market balance between sellers and buyers.

Land Market

The land market refers to the supply and demand dynamics of land for various uses, influencing prices and availability within an economy.

Marginal Productivity

The additional output derived from the use of one more unit of a factor of production, holding all other factors constant.