Answer:
The percentage decrease in utilization is 83.33%
Explanation:
According to the data, we have the following:
Coefficient of variance, m = 3
Arrival rate, ra = 45 per hour
Service rate, re = 18 per hour per lane
Therefore, in order to calculate the percentage decrease in utilization when one more checkout lane is added to the system, we have to use the following formula:
So, percentage decrease in utilization = ra / (m.re)
= 45 / (3*18) = 0.833
The percentage decrease in utilization is 83.33%
Answer:
Mrs Smith either shut down the business or invest in efficient equipements that lowers the total cost to below $7
Explanation:
The reason is that the you can not make profit if you product is sold in the market at a higher price than the competitor who offers the same product with the same features. So here, Smith can not make profits by selling the product at $8 because here total cost is $8.25 per unit.
So either she should invest in the business equipments which bring efficiencies and keeps the total costs to below $7 or she should shut down her business because the business is turned into loss making machine.
Answer: Psychological pricing
Explanation: The psychological pricing policy refers to a pricing strategy which could be said to have given rise to the use of price points whereby price of products are not perfectly rounded to rational whole numbers such example is when a product which cost $10.00 as in the scenario above is instead attached a price of $9.99. These imperfectly rounded numbers tend to have a greater psychological effect on buyers than perfectly rounded figures as buyers seem to portray these numbers as being lower than they are in actual sense.
It is true that economic duress arises when a person signs a contract under pressure due to challenging financial circumstances that are not the other party's fault.
<h3>What is meant by economic duress?</h3>
the defense of economic duress, also referred to as a business compulsion, and also: wrongdoing or illegal activity that instills dread of financial hardship and prohibits the exercise of free will in engaging in a business transaction.
Few Illustrations of Duress:
- A person being forced to exceed the posted speed limit while being held at gunpoint;
- A person being forced to rob someone or steal anything from a business while being held at knifepoint;
- Warning someone you'll hit them if they don't do something wrong
The complete question is:
Economic duress exists when a person agrees to a contract because of difficult financial circumstances that are not the fault of the other party. T/F
To learn most about Economic duress, refer to:
brainly.com/question/15227500
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