Ok Corporation Keeps Careful Track of the Time Required to Fill

question 58

Multiple Choice

Ok Corporation keeps careful track of the time required to fill orders.Data concerning a particular order appear below: The manufacturing cycle efficiency (MCE) was closest to:

• A)0.47
• B)0.02
• C)0.07
• D)0.12

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Definitions:

Oligopolists

Firms operating in a market structure characterized by a small number of companies that have significant control over market prices and competition.

Monopolistic Competitors

Firms operating in a market structure where many companies sell products that are similar but not identical, allowing for competition on aspects other than just price.

Control Over Prices

The ability of a firm or government to dictate or influence the prices of goods and services in the market, often through regulation or monopoly power.

General Motors

An American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets, and distributes vehicles and vehicle parts.