In General,as the Number of Servers in a Waiting Line

question 38

Multiple Choice

In general,as the number of servers in a waiting line system increases,

• A)service cost increases and waiting cost decreases.
• B)service cost decreases and waiting cost increases.
• C)both service cost and waiting cost increase.
• D)both service cost and waiting cost decrease.

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Definitions:

Inflation Rate

The speed at which the generic pricing for goods and services elevates, undercutting the force of buying potential.

Macroeconomics

A branch of economics that studies how an economy as a whole functions, including total national income, total levels of employment, and how general price levels are determined.

Economy-Wide Phenomena

Broad trends or occurrences that affect the overall economic system, including inflation, unemployment, and national income.

Production Possibilities Frontier

An exhibit that delineates all possible highest production outputs for two types of goods, with consideration of a variety of inputs comprising resources and others.