Four Products (1, 2, 3, and 4) Must Be Processed

question 96

Multiple Choice

Four products (1, 2, 3, and 4) must be processed on one of four machines (A, B, C, and D) . The times required in minutes for each product on each machine are shown below. If management wishes to assign products to machines so that the total time to complete all the products is minimized, then Product 3 is assigned to

• A) machine A.
• B) machine B.
• C) machine C.
• D) machine D.

---

Definitions:

Dominant Firms

Companies that hold a large portion of the market share within their industry, influencing the market's pricing and competitive landscape.

Adam Smith

A Scottish economist and philosopher, widely known as the father of modern economics, best known for his theory of the invisible hand and the book "The Wealth of Nations."

Opportunity Cost

The outcome of selecting an alternative is the exclusion of potential benefits that could have been achieved with other selections.

Equilibrium Output

The level of output at which the quantity supplied equals the quantity demanded, leading to a stable market condition without surplus or shortage.