A System Has One Service Facility That Can Service 10

question 90

Short Answer

A system has one service facility that can service 10 customers per hour. The customers arrive at an average rate of 6 per hour. Utilization is ________.

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Definitions:

Efficient Amount

The optimal level of production or consumption where resources are utilized in the most effective manner without waste.

External Cost

A cost of economic activity not borne by the producer or consumer, but rather by a third party or the environment, often leading to market failure.

Efficient Amount

The quantity of a product or service that achieves a perfect balance between economic efficiency and the satisfaction of all market participants.

Government Intervention

Actions taken by a government to adjust or interfere in the economic affairs of a nation, with the intention of achieving economic or societal objectives.