Exhibit 4-16 
-Refer to exhibit 4-16.If the market demand for baby formula is given by demand curve D2 and the supply is given by supply curve S2,which of the following is the market equilibrium?
Definitions:
Transformer Rebuilding
The process of overhauling or refurbishing a transformer to improve its performance, extend its service life, and ensure it meets current standards.
Machine Centre
A designated area within a manufacturing facility where machines are grouped by the functions they perform, often used to optimize production flow and efficiency.
Average Completion Time
The average time taken to complete a set of tasks or job orders, often used as a measure of performance in production and service environments.
Job Lateness
The situation in which a task or project is not completed within the scheduled timeframe, leading to potential delays in the overall process or workflow.
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