The Gentleman Farmer Recorded the Time It Took to Feed

question 43

Multiple Choice

The gentleman farmer recorded the time it took to feed and water his chickens and collect eggs each morning.He has done this several times,so he assigns himself a rating of 1.15.The allowance factor for this endeavor is 5%.What is the normal time for this job element?

• A)6)3 minutes
• B)7)6 minutes
• C)6)9 minutes
• D)6)0 minutes

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Definitions:

Total Utility

The complete fulfillment experienced when a certain amount of products or services is consumed.

Utility Schedule

A utility schedule is a table that shows the relationship between quantities of a good or service consumed and the utility or satisfaction derived from that consumption.

Marginal Utility

The additional satisfaction or utility gained from consuming an extra unit of a good or service.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.