Ten High-Technology Batteries Are Tested for 200 Hours Each

question 99

Multiple Choice

Ten high-technology batteries are tested for 200 hours each.One failed at 20 hours;another failed at 140 hours;all others completed the test.FR(%) is ________ and MTBF is ________.

• A)20%;880 hours
• B)10%;1980 hours
• C)20%;1760 hours
• D)20%;1000 hours
• E)80%;920 hours

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Definitions:

Marginal Product

Marginal Product is the additional output resulting from a one-unit increase in the quantity of one input while holding all other inputs constant.

Marginal Revenue Product

The additional revenue generated from utilizing one more unit of an input, such as labor or capital, in the production process.

Monopolist

A singular entity that is the only provider of a particular product or service in the market, controlling the market and potentially manipulating prices and output.

Demand Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.