Manufacturing Cycle Time Is Best Defined as The

question 66

Multiple Choice

Manufacturing cycle time is best defined as the:

• A)length of the work shift,expressed in minutes per day.
• B)time it takes a unit to move from one workstation to the next.
• C)time between the start of one unit and the start of the next unit.
• D)sum of all the task times to make one unit of a product.
• E)time from raw materials receipt to finished product exit.

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Definitions:

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the cost per unit of output.

Marginal Revenue

The supplementary earnings obtained by selling one more unit of a good or service.

Profit-Maximizing

The process or strategy of adjusting production and pricing to achieve the highest possible profit.

MR = MC

A condition where the marginal revenue (MR) equals marginal cost (MC), which is the profit maximizing level of output for a firm under perfect competition.