Four consumers are willing to pay these amounts for haircuts, and four haircutting businesses have these costs: Consumers' Willingness to Pay Firms' Costs Edison: $45 Firm A: $40 Kevin: $25 Firm B: $20 Maria: $15 Hilary: $35 Firm C: $10 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply.

Four consumers are willing to pay these amounts for haircuts, and four haircutting businesses have these costs: Consumers' Willingness to Pay Firms' Costs Edison: $45 Firm A: $40 Kevin: $25 Firm B: $20 Maria: $15 Hilary: $35 Firm C: $10 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply.

Precision Machining Technology (MindTap Course List)

2nd Edition

ISBN:9781285444543

Author:Peter J. Hoffman, Eric S. Hopewell, Brian Janes

Publisher:Peter J. Hoffman, Eric S. Hopewell, Brian Janes

Chapter2: Measurement, Materials, And Safety

Section2.5: Quality Assurance, Process Planning, And Quality Control

Problem 10RQ: If an X-bar chart graph falls below the LCL or rises above the UCL, a machining process is said to...

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If an X-bar chart graph falls below the LCL or rises above the UCL, a machining process is said to be _________.
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A company uses various machines in the preparation of ice cream. The firm has been successful until recently when it noticed growing repair expenses for the various machines it uses. Over the past 20 months, the machines have broken down at the rate indicated in the following table: Each time a machine breaksdown, the company estimates that it loses an average of US$300 in production time and service expenses. Should the company opt to purchase a service contract for preventive maintenance by Angeles Machineries Inc., (AMI) there will still be breakdowns, averaging one breakdown per month. The price for this service by AMI is US$150 per month. a. If the company continues as is, what is the expected no. of breakdowns based on past history? b. What will be the cost of breakdowns per month to the company without a preventive maintenance contract? c. What will be the cost of breakdowns per month to the company with a preventive maintenance contract? d. Should they engage the…
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Q.1 Explain the following: a) Productivity b) Standard Costing c) Fixed and Variable cost d) Marginal Costing e) Value Engineering Q.2 Define method study. Explain the various techniques of method study. Q.3 Discuss the various method of work measurement in detail. Q.4 What do you mean by the term " Financial incentives" and explain the various incentives payment schemes? Q.5 Explain the importance of MIS and role of MIS in decesion making. Q.6 Discuss the concept of value engineering and role of ergonomics in product design. Q.7 Explain the direct, indirect and overhead costs in detail. Q.8 Discuss concept of material management funtion. What are the activities involved in material management? Q.9 What are X,R, and C charts? Explain the process control charts for variables. Also explain the theory of runs. Q.10 Describe the various strategies for improving productivity in detail.